THINK AND SELL THAT HOME!

There are patterns of thinking that can help you accomplish your goal of a successful home sale, and then there are the patterns of thought that will actually harm the sale prospects of someone wanting to sell a property.  We don’t want YOU to fall into these unhelpful patterns, so here we present those patterns and how to avoid them.

False Thinking Pattern #1 – I got an offer to purchase so quickly, I should turn it down and increase my asking price because I obviously under priced.

False Thinking Pattern #2 – I got an offer so quickly but it isn’t full price so I should pass on it and WAIT because the next offer will most certainly be a better, higher offer.

False Thinking Pattern #3 – I should price just a little bit higher so I’m leaving the buyer and I more room to negotiate and in this way I will get more money for my house.

The fear of pricing too low leads many a seller down a slippery slope to actually ending up selling their home for less than they might have gotten.  The fear of accepting the first offer made has caused many a home to linger, forgotten, on the market when it could have sold quickly.  The longer it lingers, the more people start to ask themselves “what’s wrong with this house?” and skip adding it to their “To See” list.

That truth is that pricing a home at market value right from the beginning is your absolute best opportunity to sell the home at market value in the shortest time frame.

Pricing over market value causes buyers and their agents to shy away from your home for fear you will be difficult to deal with, since you are already showing signs by over pricing.  Or it causes a buyer to react emotionally negatively by making a low ball offer.  Which causes you to react emotionally negatively and defeats your purpose of selling your house.

Waiting for a non-existent “better, higher price offer” is a dangerous game that sellers seldom win.  The truth is that your first offer is usually your best offer.  And if there are elements of it that aren’t acceptable, perhaps rather than outright rejecting it, a counter offer will get you the prize you really want – the sale of your home.

Even if a buyer walked into your home and fell head over heels for it, unless they plan to pony up cash without even bothering with an appraisal, you aren’t going to walk away with more than market value because the appraisal won’t come in higher than the comparable sales dictate it should.

While it is certain that great updates and special features will increase your value, they won’t do so outlandishly.  Reasonable expectations on your part will help you see the benefit of offers you receive in a more realistic light.

Another benefit of pricing at market value is that it gives you the negotiating power needed to ask for the full market value and negotiate for attractive terms as well.

While pricing a home isn’t an exact science, it is a combination of knowledge of the local selling area, skill at marketing, a pinch of intuition with a dash of understanding buyer mentality and a sprinkling of artistry.

A home priced right according to the dictates of the current market place should see a good flurry of active showings in the first several weeks, with a solid offer being made within the average sale time of your marketplace.  Clean, maintained homes should see plenty of showings and good, solid offers.

Make sure you see showings and offers when you are ready to sell!  Talk with a local RE/MAX Alliance Associate who can help you look closely at comparison properties for your best list price.