Overpricing is an all-too-common mistake among home sellers. Here’s why it pays to listen to your agent’s advice.
Almost every seller’s goal is to maximize their home sale profits and, as your expert advisors, we share that goal. Achieving this goal boils down to location, condition, and price. If your home is well-kept and in a great location, the only remaining factor to consider is price.
As part of our pricing strategy, we’ll look at similar, recently sold properties in our market and see how your home compares in terms of size, condition, features, etc. This comparative market analysis (or CMA), as it’s called, will help us gain a better understanding of where we should set your home’s price so that it aligns with its market value.
Know that your CMA is a product of your agent’s expert advice and should not be taken lightly. If you choose to ignore your agent’s advice and price your home $20,000, $30,000, or even $100,000 over market value, it could very well hurt the prospect of you selling quickly and for the maximum price.
If you price your home in line with your neighbor’s and you haven’t made the extensive bathroom, kitchen, or outdoor-living renovations that they have, there’s a higher chance your home will sit on the market for a while and will sell for a lower-than-average price.
As your expert advisors, it’s our job to guide and counsel you on the key factors involved in properly pricing your home. Given my previous experience with managing over 100 staff appraisers at one time, I know how to strategically price homes.
If you have any questions or you’re looking to sell your home now or sometime in the future, please don’t hesitate to contact me. I’d be happy to schedule a no-obligation meeting with you to help you make the most informed decisions and achieve your selling goals. I look forward to hearing from you!