If you call me and find yourself saying any of the following, just know you may be hurting your chances of selling your home quickly and for the most money possible.
“I’m not making any repairs.” According to the 2018 Home Buyer and Seller Generational Trends Report from the National Association of REALTORS®, 47 percent of buyers under the age of 37 purchased new homes to avoid renovations and problems. If many buyers don’t have the will, skill or time to make repairs, you’re eliminating a number of buyers who would otherwise love your home.
“My home has to be worth more than that.” You may believe your home should be worth more than you paid for it and provide you with enough equity to move, and indeed, that might be true! We will supply you with tools to understand current market value. Our comparable market analysis will show what homes have recently sold for and what other sellers are asking for similar homes as yours, as well as price and sales trends. We’ll help you make the best decision based on facts.
“Let’s price it higher and see what happens.” Pricing above comparable homes is a risk. You’ll outprice buyers who would want your home. Buyers who can afford your home will quickly find that your home doesn’t compare to others.
In any of these cases, you’ll be looking at a price adjustment, and will have lost valuable marketing time. Realistically, your home is only worth what the most qualified buyer is willing to pay for your home.
What is your first step? Call or email Cathi at The Lund Group to get the information you need to make the best business decision for you.
Source: Berkshire Hathaway Talking Real Estate September 2018