When preparing to put your home on the market, there are a lot of things you need to think about. Deciding if you should make home repairs and improvements, staging your home to impress potential buyers and keeping your lawn and house in prime condition for viewings and prepping to move. But one of the most important decisions you must make is how to price your home. Determining the asking price for your home cannot be taken lightly. There needs to be some psychology and strategy used to decide the price that will sell your home in a timely manner and for the most profit. You and your Realtor should identify and agree upon the approximate value of your property. You can use Comparable Sales of similar properties sold in your neighborhood to help you make this decision.
Next, you need to understand the price range for your list price. Depending on market conditions, competing properties, time of year or inventory, the price range can fluctuate. For example, a house with the asking price of $500 K can have a price range of $480 K to $520 K. Once you have determined your home’s value and have a price range in mind, it’s time to conclude what your asking price will be. This is where pricing strategies come into play.
A Note About Pricing Your Home
Did you know the best chance for selling your property is within the first seven weeks? It's true. Studies show that the longer a property stays on the market, the less the seller will net upon the sale. It is very important to price your property at a competitive market value at the signing of your listing contract. The market is so competitive that even over-pricing by a few thousand dollars could mean that your house will not sell.
An Overpriced Home:
· Minimizes offers
· Lowers agents response
· Limits qualified buyers
· Lowers showings
· Lowers prospects
· Limits financing
· Wastes advertising dollars
· Nets less for the seller
Pricing Strategies: Tips for Pricing Your Tampa Home Correctly
Ready to Sell Your Tampa Home?
If you decide you are ready to sell your home, contact the real estate professionals, Linda & Craig Nowicke at Inside Tampa Homes and let them assist you in getting your house on the market and sold for the best possible price! Call them today at 813-675-5030 or 813-728-3880.
For more information on how to avoid mistakes when selling, download our free report called "Avoiding the Top Ten Biggest Selling Mistakes". This report is offered to all guests.