Even in today’s sellers’ market, setting the right price for your house is one of the most valuable things you can do. Existing home prices nationwide are forecasted to increase by a further 9 - 12% in 2021. This means experts anticipate home values will continue climbing this next year.
How to Price Your House
When it comes to setting the right price for your house, the goal is to increase visibility and drive more buyers your way. Instead of trying to win the negotiation with one buyer, you should price your house so that demand is maximized, and more buyers want to take a look. A fantastic method to achieve this is by running an Auction campaign for your house sale.
As a seller in today’s market, you might be thinking about pricing your house on the high end - while so many of today’s buyers are searching harder than ever just to find a home to purchase. But here’s the thing – a high price tag does not mean you’re going to cash in big on the sale. It’s actually more likely to deter buyers. This is due in large part to the price filtering settings on all of the online property sites. If you price your home outside where buyers are looking, then a significantly lower amount of them will initially see your house for sale, and even less will come to physically inspect it.
Right now, even when there are so few houses for sale, your house is more likely to sit on the market longer or require a price drop that can send buyers running if it isn’t priced in the right range from the very beginning.
When you price it competitively from the start, you won’t be negotiating with one buyer. Instead, you’ll likely have multiple buyers competing for the house, potentially increasing the final sale price. Or, even better, several bidders turning up to bid on Auction day.
The key is to make sure your house is priced to sell immediately. This way, it will be seen by the greatest number of buyers. More than one of them may be interested, and it will be more likely to sell at a competitive price.
Thinking about selling? Reach out to me to talk about your correct price point for your home, get a great marketing plan for your property, and have some fun doing it!
My mission is to help you maximize your exposure and achieve the very best sale price in the current marketplace.
Helpful and interesting info from Paul, and Harcourts to help you with your property journey.