Importance of Pricing Your Home to Sell

The importance of pricing your property to sell quickly depends on several key factors. So, if you want a healthy ROI and to sell your property quickly, you'll price it right from the start.
By: Coldwell Banker Schmitt Real Estate
 
KEY WEST, Fla. - Feb. 10, 2020 - PRLog -- Per Fred Mullins, Top Producing Member of Team Mullins at Coldwell Banker

Schmitt in Key West and owner of "www.lowerkeys-homes.com," Pricing your home depends on some different elements. These include the local market condition (whether it's a buyer's or seller's market or at parity), the overall condition of your property, the neighborhood in which your house is located, and a few other things.

If you gather the right information together, you ought to be able to determine the fair market value of your house. You'll need to get the data on the most comparable properties that have sold within the last three months. These comparable properties need to be approximately the same square footage, the same number of bedrooms and bathrooms, in your neighborhood or a similar one and have similar amenities.

Now, with all of that data gathered, you can find a realistic asking or listing price. But remember, it is critical that your asking or list price is in line with the market. Here's why:

Pricing your home too high. If you list your home above market value (a mistake some sellers make in order to have room for tentative negotiation), you are putting the home out of its rightful search parameters. In other words, buyers in your rightful price range won't see it, while buyers in a price range above your property will see it. The end result is your marketing your property to the wrong audience. What's more, professional real estate buyer's agents will not show their clients you're home because they know it's priced too high. The end result is your house will sit on the market much longer than it needs to, and you'll have to reduce the price.
Pricing your home too low. This too, is a huge mistake, even if you want to offload the property as quickly as possible. it will cause buyers to wonder why you're selling it so cheap and they'll simply stay away. What's more, if you raise the price that will only raise more questions from buyers and it won't sell.

Fred Mullins, P.A. holds an MBA, B.S., real estate license, United States Coast Guard Master Captain's license and commercial pilot's license. With over 20years of cross-functional experience in real estate, international asset management, and construction management, Fred's experience places him as one of the top real estate professionals in the Florida Keys.

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Fred Mullins
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Tags:Lower Keys Real Estate
Industry:Real Estate
Location:Key West - Florida - United States
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