When you’re selling your home or land, the price you set is a critical factor in the return you’ll receive. That’s why you need a professional evaluation from an experienced REALTOR®. This person can provide you with an honest assessment of your property, based on several factors including:
- Market conditions
- Level of development activity near your property
- Condition of your home
- Repairs or improvements
- Time frame
In real estate terms, market value is the price at which a particular property, in its current condition, will sell within 30 to 90 days.
If the price of your home, land or lot is too high, several things could happen:
- Limits buyers. Potential buyers may not view your home, because it would be out of their buying range.
- Limits showings. Other salespeople may be less reluctant to view your home.
- Used as leverage. Other realtors may use this home to sell against homes that are better priced.
- Extended stay on the market. When a home is on the market too long, it may be perceived as defective. Buyers may wonder, “what’s wrong,” or “why hasn’t this sold?”
- Lower price. An overpriced home, still on the market beyond the average selling time, could lead a lower selling price. To sell it, you will have to reduce the price, sometimes, several times. In the end, you’ll probably get less than if it had been properly priced at the start.
- Wasted time and energy. A bank appraisal is most often required to finance a property.
REALTORs® have known it for years – Well-kept homes and property accurately priced in the beginning always gets you the fast sale for the best price! And that’s why you need a professional to assist you in the selling of your home.