Attracting buyers is the name of the game. As a seller, you generally have two goals:
#1. To get the most money possible.
#2. To sell as quickly as you can.
Be realistic. Price is the number one factor that most home buyers use in determining which homes to view. Although the price is set by you, the seller, the value of the home is determined by the buyer. Don’t allow your enthusiasm to affect your judgment and lead to overpricing, a mistake you can’t afford to make.
Here are some factors to consider recommended by experienced residential specialists to help you sell your home. This information is not all-inclusive and does not replace the expertise provided by Norm Pullen.
What Affects Your Asking Price?
Urgency. How quickly must you sell?
Competition. Are there just a few or many homes available in your price category and area?
Available Financing. Does your home come with an assumable loan that is below today’s rate? What are the current home loan interest rates? What financing alternatives are available for your home and area?
Competitive Market Analysis. Do you know what similar homes in the area sold for within the last six months?
Expenses. What are your selling costs?
What Affects Your Asking Price?
Urgency. How quickly must you sell?
Competition. Are there just a few or many homes available in your price category and area?
Available Financing. Does your home come with an assumable loan that is below today’s rate? What are the current home loan interest rates? What financing alternatives are available for your home and area?
Competitive Market Analysis. Do you know what similar homes in the area sold for within the last six months?
Expenses. What are your selling costs?
What Happens to an Overpriced House?
You’ll Help Sell the Competition. The “correctly priced” homes look even better if yours is overpriced. Most buyers are competitive shoppers.
Your Home Will Stay on the Market a Long Time. Did you know that 80% of your potential buyers will see your house in the first four to six weeks? If you don’t sell them then, it takes approximately three months to replace them with an equal number of newcomers.
You’ll Lose Market Interest and Qualified Buyers. Serious buyers use the value, quality and price of similar properties as deciding factors.
A Negative Impression is Created. People will wonder why your house is still on the market – they’ll believe something is wrong with your home.
You (The Seller) Would Lose Money. You may have to make extra mortgage payments as well as incur taxes, insurance and unplanned maintenance costs.
You (The Seller) May Have to Accept Less Money. Statistics show that the longer a house is on the market, the greater the discount off the list price. Often a seller will accept less than fair market value in order to sell because of an approaching deadline.
There is the Potential for Appraisal Problems. The appraiser from your buyer’s lending institution must agree that the home is worth the asking price. If the appraiser believes the price is inflated, the loan may not be approved.
As you can see, there are a multitude of factors that determine the asking price of your home. Finding this price yourself can be a long and difficult task. That is why many satisfied homeowners, like yourself, turn to Norm Pullen. Norm has the tools necessary to compute the fair market value of your house quickly and accurately while allowing for personal considerations (such as the date by which you must sell) and confidently answer your questions about listing, pricing and showing.
Norm’ goals are the same as yours! To get you the most money possible, and to sell your home as quickly as you can.
To make selling your home a pleasant and profitable experience for you.
When you want to price your home to SELL FAST… Turn to Norm Pullen!