It is our job as real estate agents to help you decide on the best selling price for your home. We pull together a Comparative Market Analysis (aka CMA) and that information in hand, we sit down with you and talk about the homes that have sold in your area, the homes that are for sale in your area and what is currently pending, comparing them ALL to your home.
You already know that? Of course you do! But let me give you a little tip that may help you sell your home for more.
Tip #1 – PRICE YOUR HOME ACCURATELY
Once we know what your home is worth, now is the tricky part. Setting the selling price. If you set it too high, you will get less visitors to see your home. If you set the price too low, potential buyers will be suspicious and think something is wrong OR think you are desperate to sell and try to negotiate you down even further. The trick is simple, price it accurately the first time and within a few thousand of where you want the home to close at. Ultimately, there will be more offers and less negotiating on the price.
Doesn’t sound like much of a trick? Well you’d be surprised at how many Realtors have NOT figured that one out. Let me share with you a dirty little secret. There are a lot of Realtors that will tell you that your home is worth more than it is in an effort to win the listing. They lead you to believe you can sell for more if you list with them knowing full well that they are going to convince you to lower the price after a few weeks of no offers. The real problem is the longer your home is on the market, the more desperate you become and the more potential buyers will try to negotiate with you even more. In the end, you the home seller always lose but that shady Realtor still gets paid.
Tip #2 – PRICE YOUR HOME PRECISELY
Ditch the three zeros at the end of your sales price and use a more precise figure. A research team at Cornell University found that home buyers will pay more for a home if its listing price does not end in all zeros. If your home is valued at $255,000 try listing it at $254,500.
I recently read an article in the Washington Post that covered this very idea. Here’s the condensed version:
Washington Post- Researchers (at Cornell University) say sellers make more money if they price their home at $325,425 rather than $326,000. … Results were confirmed by examining 27,000 transactions in two markets – South Florida and Long Island, N.Y. In South Florida, having three zeros at the end lowered the selling price by 0.73 percent. … According to the authors, if there is one house with a list price of $485,000 and another with a list price of $484,700, “our results suggests the the house with the more precise list price will sell for about $1,380 more” than the house with the three zeros.
If you are interested in selling your Dallas area home quickly and would like to speak with us, please call 800-326-9011. We will be able to help you accurately price your home and will market your home in more ways than anyone. Plus with our flat fee listing, our average home seller saves $6,250 on commissions. Please visit our home marketing page for more information! You can also request your free CMA here.
If you are looking to buy or sell a home anywhere in the Dallas Fort Worth Metroplex to include Frisco Real Estate please call us at 800-326-9011 or email us by clicking here.
This entry was posted on Thursday, March 6th, 2008 at 10:39 pm and is filed under Dallas Fort Worth, Home Seller, Real Estate, Tips for Sellers. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.