Proper Pricing for a Quick Sale

by : Eric Badgely

Perhaps the most important aspect of any home sale is how the home is priced. As this is a fairly big claim, allow me to explain. Virtually ANY home can be sold if it is priced correctly. Now, proper pricing is not always the number that the owner has in mind as they undoubtedly have an emotional tie to the home and will tend to price a home with their heart instead of their head. Home pricing is a skillful combination of knowledge of what is happening in the local real estate market, comparable homes that have sold recently or are currently listed for sale. An agent has to consider all of these aspects in addition to the assets of the home itself in order to come up with a price that is fair and attractive to buyers and to the seller.

As a seller the best thing that you can do is to put your trust in the value that your agent comes up with. Remember; the head, not the heart. If the original value range is not to your liking then perhaps there are some things that you can do to improve or increase the value of the home. Overpricing a home is a real problem as buyers will have no trouble comparing your home to others that are listed at the same price. If your home does not add up or visibly compete with the others then your home will simply be forgotten and it will sit on the market and possibly gain the stigma of an "un-sellable home." This is not to say that it is not sellable, simply that it is not sellable at that price. The problem comes when a home has been listed for a long time and people do not know that the only reason that it has not sold is the price. It is now when people will start assuming things about the property whether or not they are true.

Before the home is listed sit down with your realtor and discuss the price issue. Set out a bottom line and an ideal number for the sale. Then, after the agent has done the CMA and considered your home's assets, the two parties can come together on an agreeable price that will attract buyers immediately. If you have the right home at the right price, selling should be no trouble at all.