Selling Your Home
Most people know that there will be some negotiation involved in the asking price of a home. However, there are some important things to keep in mind.
Chances are that your home will sell at its fair market value. Pricing it realistically at the outset simply increases the likelihood of a timely sale with less inconvenience and greater monetary return.
When it comes to price…
The best chance for selling your property is within the first seven weeks. Studies show that the longer a property stays on the market, the less the property will sell for.
The market is so competitive, that even over-pricing by a few thousand dollars could mean that you house will not sell.
Interestingly, your first offer is usually your best offer.
Here are reasons for pricing your property at the market value right from the start.
An over priced home:
- Minimizes offers
- Lowers agent response
- Limits qualified buyers
- Attracts the wrong type of buyers
- Lowers the prospects by lowering the number of showings
- Less response from advertising and marketing dollars
- Limits exposure
- Limits financing
- Increases complications in the transaction
- The property becomes “shipworn”
- Nets less for the seller
Strategies for Home Sellers
TEN COMMON SELLER MISTAKES
- Buying a new home before you sell your old one.
- Listing your home based on the price you would like to get rather than on market value.
- Failing to know the condition of their home (by having appropriate inspections) before they list.
- Putting a house on the market before it shows well.
- Refusing to reduce a list price that is too high for the market.
- Refusing to counter a low offer.
- Being present when the home is shown to prospective buyers.
- Listing with a contingency to find a replacement home.
- Setting up a complicated show procedure that discourages showings.
- Refusing to do anything to get your home ready to sell.
Tips for Showing Your Home
- Keep all lights on
- Open all shutters and drapes
- Keep all doors unlocked
- Leave soft music playing
- Take a short walk with all children and pets during the showing
- Leave the premises
- Let the buyer feel at ease and let agents do their job
Andy & Christa Estes
Prudential 1st Real Estate
Tupelo, Mississippi 38801
Office: 662-620-2234 Fax: 662-620-2239
Christa@working4you.com
Andy@working4you.com
