Wednesday, February 6, 2019 / by Holly Northup
It is no surprise that buying and selling a home is rated as one of the most stressful things you can do in life. However, placing your trust in a professional and competent Realtor® is the best thing you can do to alleviate unwanted and unwarranted anxiety.
The Bucher Group can help!!
Today, we’d like to discuss selling your home for the right price because price is the most critical piece when selling your home.
You’ve always heard location, location, location. But, if the location is perfect and the property is over-priced…it will not sell. That leads to disappointment and lots of frustration.
Of course, everyone wants top dollar for their home. Nevertheless, pricing a home AT or even a little below market price is a win-win for everyone.
Think about it. Even in a seller’s market, such as we have in Austin, the over-priced homes sit and all the other properties move quickly and are even sometimes sold OVER listing price. This is because homebuyers have no problem competing for homes that are priced correctly.
In fact, homes priced at market price get 60% of potential buyers, homes priced 15% below get 90% of the potential buyers and homes that are 10-15% higher than market price ONLY GET 10-30% of the potential buyers. That is a huge difference.
So, how do you price your home competitively?
- Find a dependable Realtor® - Kathleen Bucher is a great one!!
- Look at what has recently (no longer than 6 months) sold in your neighborhood.
- Look at what is currently on the market in your neighborhood.
- Look at what is already under contract in your neighborhood.
- Listen to your Realtor®.
The value of your property is determined by what a buyer is willing to pay and a seller is willing to accept in today’s market.
Buyers make their pricing decision based on comparing your property to other properties SOLD in your area. Historically, your first offer is usually your best.
More importantly, what shouldn’t you look at when pricing your home?
- What you paid.
- What you need.
- How much you want.
- What it would cost to rebuild today.
Many homes that start too high end up selling for below market price. That frustration and loss of income is unnecessary and easily remedied by pricing the home correctly in the first place.
For more information about pricing your home or buying and selling real estate in the Austin area, please contact Kathleen Bucher at 512.794.6644 or KathleenBucher@mac.com. It would be an honor to earn your business.