It’s important to price your property correctly from Day 1. It is better to price it right the first time than to chase the market down to the right price.
Buyers tend to cluster around certain price points. The more buyers in a category, the more buyers available to consider purchasing your property. The goal is to determine the desirable price that will result in the most qualified buying pool.
Determining factors in pricing your home:
• Comparable properties that have sold and are pending in your area
• Current properties on the market in your neighborhood or in your price range
• Location of your home (i.e. adjacent to open space, cul-de-sac location, busy street, view lot, etc.)
• Year built
• Upgrades, additions, and/or remodeling
• Emotional and curb appeal
• Landscaping, backyard and lot features
• Price per square foot
• Reputation of schools in your area
• Neighborhood and lifestyle amenities
Your number one pricing goal is to attract other agents and qualified buyers to visit the property. Once your property is receiving showings, the next steps are to encourage offers and negotiate a sale. Only by pricing to encourage showings can you expect to negotiate the best offer for your home.