"Today, it's just a house - Tomorrow, it is home."
The asking price you set for your home significantly affects whether you will profit in the sale, how much you will profit, and how long your home will sit on the market.
Your real estate agent's knowledge of the market and what's selling will be invaluable in helping you determine the price. The objective is to find a price that the market will bear but won't leave money on the table.
Value versus cost
Pricing your home to sell in a timely fashion requires some objectivity. The asking price you set for your home significantly affects whether you will profit from the sale. It's essential that you not confuse value with cost - in other words, how much you value your home versus what buyers are willing to pay for it. Don't place too much emphasis on home improvements when calculating your price because buyers may not share your taste. For instance, not everyone wants hardwood floors or granite countertops.
When it comes to real estate, time is not on your side. Although many factors influence the outcome, perhaps time is the most significant determinant in whether you see a profit and how much you profit. Studies show that the longer a house stays on the market, the less likely it is to sell for the original asking price. Therefore, if your goal is to make money, think about a price that will encourage buyer activity.
Please keep it simple
Because time is of the essence, make it easy for the buyers. Remain flexible on when your agent can schedule showings. Also, avoid putting contingencies on the sale. Though a desirable move-in date makes for a smoother transition between homes, it could cause you to lose the sale altogether.
Are you looking to buy or sell a home in the Orange Grove, Sandia, San Patricio, TX area?
Robert Ellis | Realtor | Levi Ellis | Realtor | Ellis Realty Group