Determining the best price for your home - Albuquerque Journal

Determining the best price for your home

Trust your REALTOR® to determine your listing price

 

For homeowners, often our house is our largest investment. As such, we are so invested in the property that it is difficult to look at it objectively. As a Certified Staging Professional, I frequently hear homeowners state (with great dissatisfaction), “the Realtor® only wants to list my home for X amount”.

Keep in mind that the market value of your property is limited to the maximum a buyer is willing to pay in a designated area. No matter how much more you wish your house were worth, it can realistically only glean a maximum dollar value per square foot. Yes, properly preparing and showcasing your property will encourage that top value. However, top dollar is not top dollar plus, plus, plus.

Also remember that Realtor® commissions emanate from the sale price. The higher the sale price, the larger the commission. The Realtors® ultimate goal is to make their clients happy so there is no incentive to under price your home. Neither of you make as much money and you, the clients, are unhappy.

Houses that are properly prepared and properly priced will move faster for more money. A house that is properly prepared but overpriced will not attract the number of buyers desired, the house will sit on the market longer just because of price. The more days a house is on the market, buyers will surmise and assume. They will immediately wonder what is wrong with the property.

The Realtor® will likely recommend a price reduction because the price is just too high.

Calculate how much equity you lose by delaying, just to reduce the price to where it should have started. Avoid limiting the number of potential buyers and opportunities for a sale.

Do the necessary work before listing by preparing your property. Trust your Realtor®, price your house right from the start to attract a larger buyer pool, encourage multiple offers, a better purchase price and less days on the market. You will maximize your equity as a result.


 © 2016, Mindy Abramson, CSP, all rights reserved.

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