3 Ways To Price Your Home (#3 Is The Best Strategy)

Randi and Tracy would like to discuss pricing strategies! There are three ways that you can price your home when putting it on the market. One does not work at all, one works fairly well, and the third provides amazing results! 

1. Overpricing

The first way to price your home is to overprice it. This is a very old-fashioned way to price your home. When Randi and Tracy first started in this field, everyone wanted to price their homes above market value and leave some "wiggle room" for the buyers to make an offer, as the sellers would think they could always reduce the price. However, in today's market this is not an effective strategy as buyers are now very educated. If they perceive your home as overpriced, they often will not even come look at your home. The biggest problem with this method is that your ideal buyer may not even realize that your home is on the market because they are only looking in their very specific price point, so you are likely to miss out on your ideal buyer if you overprice the home.

2. Price it at Market Value

The next way to price your home would be right at market value. Randi and Tracy would provide insight on what they feel is the selling price of your home, and price it at that price. This will bring many people to view the property and hopefully an offer very close to your listing price. When priced just right, you are likely to sell your house at listing price!

3. A Bit Below

Finally, the best way to price your home, and the way that will most likely  bring you the most money for your home, is to list a little below market value. This creates a buyer frenzy! You will notice if you price your home a little bit below market value your open house will be flooded with people. The buyers will walk in and think, "If I don't buy this house, someone else will!" This initiates a "bidding war" which can actually bring you more money than if you were to price at market value because there is such a sense of urgency. 

Let Randi and Tracy meet with you to discuss what strategy works best for you. They will help you sell your home quickly for top dollar. Who you work with matters! Call Randi and Tracy today for all of your real estate needs.

Randi and Tracy - your local Real Estate Experts.