If you’re thinking of listing your home, realize that the initial price you set for it will be one of the most important factors in selling quickly and for top dollar.
Any agent you work with should place a high level of emphasis on this aspect of your selling strategy. Having someone by your side who is able to examine market trends and predict where conditions are heading will be crucial to your success. And this mindset applies to more than just real estate. Take the words of famed hockey player Wayne Gretzky, who once said: “Skate to where the puck is going, not where it has been.”
The point of this quote is to realize that in hockey, life, and real estate alike, the secret to success is to stay one step ahead.
As the market shifts and becomes more normalized, this proactive mindset is exactly what sellers must apply to their listing strategy. Don’t chase the market.
If the going rate in your neighborhood for homes like yours is somewhere between $700,000 and $720,000, the last thing you want to do is price your home at $740,000 to leave room for negotiation. This may have worked in the recent past, but our market has changed.
As inventory increases and homes begin taking longer to sell, some of the pressure buyers previously felt is being relieved. Now, instead of buyers chasing properties, sellers are chasing buyers. And there have been a lot more price reductions lately as a result.
To avoid this fate for your own listing, you need to take the direction of our market into account when developing your pricing strategy. If you price correctly from the start, you will be far more likely to sell quickly and earn top dollar.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.