Mistakes To Avoid When Pricing Your Home For Sale!

Posted by Admirals Cove Homes on Oct 7, 2014 in Home, Real Estate | 0 comments

Selling your home is probably going to be one of the largest and most important transactions you will ever make and pricing it right is key. Unfortunately, pricing is not a simple process and home sellers are bound to make a mistake or two when pricing their home for sale. So here is a list of some of the top mistakes home sellers should avoid when setting their asking price.

• Not Doing The Right Or Forgoing Research: Before you even consider setting your asking price it is imperative that you do your homework and research what comparable homes have sold for recently. It is crucial that you at least use recent comparable home sales as a place to start when pricing your home for sale. It is important for you to know the recent comparable sales because your potential buyers will.
• Letting Your Emotions Get In The Way: Owning a home is much more than just that. It is an investment in your future and the future of your family and we understand that but it is a dangerous mistake to let your emotions get involved when pricing your home for sale. Because unfortunately potential buyers don’t care about sentimental value or about your feelings so be sure and price your home correctly and avoid allowing your emotions to get in the way of your home selling.
• Overpricing Because You Can Wait For It To Sell: Sometimes home sellers will overprice their home because they think they can wait and eventually get that asking price. But in today’s housing market overpricing a home and waiting to see if you can get it will typically lead you to lose money in the end. This is a huge mistake that you should avoid when pricing your home for sale. So be sure and price it correctly right from the start to avoid any potential lose down the road.
• Pricing High Because You Can Always Come Down: Some home sellers will make the mistake of pricing their home high because they believe they can always lower it, but this is a huge mistake that must be avoided at all costs. This is because in real estate first impressions are crucial and if overpriced most potential buyers will overlook your home all together and by the time you bring your price down any real potential buyer will have probably found something else.

This advice is great for any home seller setting their asking price not just those selling home in Admirals Cove. So please consider sharing this article socially!