Landon Huffer- Texarkana Real Estate Broker

The Importance of Pricing Your Home Right | May 25, 2011

I cannot stress to you how important pricing your home right is to the success of the sell of your real estate asset quickly and for top dollar. This becomes even more important in the current down market.

Thanks to the internet today’s buyers are more aware, informed, and educated than they once were. Buyers are now able to sit in the comfort of their home and do their own research. They have access to hundreds of web sites. Buyer’s now can search for homes for sell, tax assessment information, they can find out how much you paid for your house, and in some areas they can even see how much your loan balance is, if you are delinquent on your mortgage, and if you are delinquent they can see how many months behind you are.

With all this information at the finger tips of buyers they do not call an agent until they are ready to make an offer. Sometimes they will search for years before they contact an agent. So, when it does come time to start looking buyers already have a good feel for what a particular property is worth.

I understand a seller not wanting to leave money at the table, but a buyer is not even going to inquire on a home they find online if it is over priced. You lost the buyer before you could even get them through the door.

There are more things to consider when selling a house than just the sells price and amount of mortgage left. When pricing your home you should consider how many months you are willing to continue to pay the mortgage. If you overprice your house by as little as $5,000 you could lose that $5,000 in just 2 or 3 months of payments depending on how big your mortgage is. With the average property taking about 6 months from list to close you could be talking about losing thousands.

Sometimes you want to list high and negotiate down. Well once again you are going to lose the buyer before they even call.

You have got to price the house appropriately to have a chance of selling in a reasonable amount of time. Right now buyer’s have more homes to choose from than ever. The market is flooded with properties for sell. What is going to make them look at your overpriced property if there are other properties priced right to choose from?

As a Realtor I have a vast knowledge of property values. I am not a licensed appraiser so I am not able to give an actual market value. But, as a Realtor I have access to sold prices and can give my opinion of value. This opinion of value should be very near what an appraiser would value the property at. It is very important to list at what your agent suggests to list at.

If you are still not comfortable with the number you are given by your agent I recommend obtaining an appraisal. You can get an appraisal for just a few hundred dollars and you will know exactly what your property is worth. That way you know for 100% fact you are getting the most money possible for your property.

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About author

I am a young, eager, and aggressive Real Estate Broker with Schimming Company Commercial Real Estate.

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