Importance of Pricing Your Home Correctly to Sell

ISLAMORADA, Fla. - Aug. 5, 2015 - PRLog -- Per Jan Keller, Top Producing Real Estate Agent for Coldwell Banker Schmitt, "Selling your home, as you might imagine, takes a whole lot more than just staking a For Sale sign in the yard and taking out ads. It’s an entire holistic process, and, while that might sound funny, it’s serious. Your property is someone else’s future home, meaning the next owner is ready to start a new life by turning a house into a home.

Even if you stage it perfectly, take great photos, write a compelling listing description, and, offer buyer incentives, you’re still likely to generate any interest if it’s not priced correctly. Here are some helpful tips on what to do and not to do when pricing a home to sell:

●Learn its true market value. All too often, homeowners base their prices on the listing or asking prices of other, similar homes. That’s a big, big mistake, because those homes have not sold and are not under contract. Though these may have similar square footage, same number of beds and baths, as well as amenities, they aren’t truly comparable. Base your listing price on comparable homes that have sold in the past 3 to 6 months.

●Be careful about pricing with “room to negotiate.” While it’s very tempting to price your home just above market value because of all the improvements and upgrades you’ve made, it’s nonetheless a mistake. Especially when you’re doing so to give potential buyers room to negotiate down, because it will be well known you’re only interested in trying to dominate.

●Don’t be too aggressive in discount pricing. There’s a time when it’s okay to price a property below market value to pique buyer interest. However, when you do this, you inadvertently send a signal that you’re desperate, or, there’s something wrong with the home.

Speak with your selling agent and listen to the advice you’re are given. Although it’s difficult, you’ll have to leave emotion out of it or pay the price.