4 Tips for Setting the Right Sales Price
A recent article in the Washington Post brings up helpful points for selling in our current market. Selling property can be a challenge when sellers think their homes are worth more than their real estate professional, and buyers think these same homes are worth even less. By taking these basic factors into consideration and setting the price accordingly, the chances of selling increase.
How many homes are for sale in the neighborhood? The more homes on the market, the more important it is to list at the lower end of the scale.
Take short sales and foreclosures into consideration when pricing. If the competing properties are in lousy condition, they are less of an issue, but if they are well taken care of, yet priced 25 percent below market, they can be a serious factor.
Negotiate decisively. Minimize the back and forth.
Cut the price when you have to. If no one shows up for an open house; if no one calls; and if there are no offers, then the price is too high. That means it's time to make a meaningful price cut.