I’ve been known to answer questions with questions. This post will only support that reputation. You are wondering……Why Aren’t Buyers Coming to See Your Home?
Let me ask you a question. Is your home PRICED TO SELL?
Pricing your home is both an art and a science. Achieving the optimal price is the result of conducting OBJECTIVE research into comparable properties and a gut feeling about your property in relation to the current market. If you gut isn’t giving you the desired result, go and look at your competition.
Visit homes for sale in your neighborhood and analyze their asking price. If you home doesn’t show as well as your neighbors’ or isn’t priced as aggressively as your neighbors’, you might want to reconsider your asking price.
Price is the number one factor that most home buyers use to determine which homes they want to view. Furthermore, most Accredited Buyer Representatives will limit a buyer’s home search and their showings by analyzing the blend of price and value that is desired by their buyer client.
Even though the PRICE of the home is set by the homeowner, the VALUE of the house is determined by the buyer through influence from their research or from a real estate professional. (Note…I purposely used home and house in the same sentence.)
Attention Homeowners………..Try to avoid allowing your enthusiasm to impact your better judgment. Overpricing is a mistake that can cost sellers thousands of dollars.
As a proud member of the Council of Certified Residential Specialists, we would like to share some reliable guidelines to use for pricing your home……
FACTORS THAT SHOULD AFFECT YOUR ASKING PRICE INCLUDE......
- How Quickly Do You Need To Sell (click here for examples of recent sales)
- The number of homes on the market in your neighborhood or immediate area
- Availability, Flexibility and Affordability of Financing
- Sale prices of homes sold in your neighborhood/area during the past six months.
Factors that should NOT affect your asking price include..........
- Your purchase price for the home. Remember........Buyers Set Value!
- Today's cost to build your current home.
- Your emotional attachment to the HOME. (It's a HOUSE to the buyer.)
- The opinions of friends and neighbors....UNLESS that neighbor is a member of the Council of Certified Residential Specialists.
In Part Three of this series, I might give you some video for your viewing pleasure.