NORTH DALLAS HOMES
How to price your home to sell
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 overall market and what's selling - or not 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.
Here are some points to consider: Time. Time is not on your
side when it comes to real estate. Although many factors
influence the outcome, perhaps time is the biggest
determinant in whether or not 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
(read: fair market value).
Value vs. Cost. Pricing your home to sell in a timely
fashion requires some objectivity. It's important 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.
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. |
DETERMINING VALUE
LOCATION:
Ø
Location is the
single most important factor in determining the value of your
home.
Competition
Ø
Prospective buyers
compare your property against competing properties.
Ø
You are competing
with every other home that is currently for sale: new and
pre-owned, those listed with agents & those
trying
to sell themselves, in your area
and other areas.
Ø
Buyers will perceive
value based upon properties that have sold or are available in the
area.
TIMING:
Ø
Property values are
affected by the current real estate
market.
Ø
As the real estate
market cannot be manipulated, a flexible marketing plan should be
developed which analyzed the current marketing conditions and
individual features of the property.
CONDITION:
Ø
The
condition of the property affects
the price and speed of the sale.
Ø
As prospective buyers
often make purchases based on emotion, first impressions are
important.
Ø
Optimizing the
physical appearance of your home will maximize the buyer’s
perception of value.
Ø
If buyers have a
choice of two comparable properties similar in price, they’ll
choose the one in the best condition.
PRICE:
Ø Pricing
your home properly from the beginning is an important factor in
determining the length of time it will take to sell your home.
Ø
Reviewing this home
marketing plan will assist you in determining the best possible
asking price.
Ø
If buyers have a
choice of two comparable properties similar in condition, they’ll
choose the one that is less money.
We serve Allen, McKinney, Prosper, Frisco, Plano,
Lewisville, The Colony, Sachse, Wylie, Murphy, Richardson,
Carrollton, Flower Mound, Coppell, along with many other areas
around DFW.
Frisco
foreclosures offer a tremendous amount of value and can save the
buyer thousands.
NORTH
DALLAS REAL ESTATE AGENTS
