How to Sell a House in Harrisburg PA - Pricing Advice for Sellers: One of the most common questions a Realtor hears is, "How do I price my home?" I cannot stress enough to you - the one who wants to sell your home - the importance of pricing your home where it needs to be. Here is the best tip on how to sell a house: this is pricing advice for sellers that will make a difference:
Pricing Advice for Sellers: “They can always make an offer.”
The problem is, most buyers shop up to their price range, peek a bit over, then focus only in their price range. By overpricing, you put your home into a price bracket where they won’t look. The wrong price attracts the wrong buyers. The ones who could afford a market value price won’t see it… and the buyers who do see your home won’t be interested.
Pricing Advice for Sellers: “Couldn’t we try it for a couple of weeks?”
The majority of market activity occurs in the first two to three weeks, therefore, that is the worst time to overprice, because that’s when your best customers see the home. So when you ask, ‘Can we try it for a couple of weeks,’ look what you’re doing. You’re overpricing your home during the period of its best activity, then lowering the price after they’re gone. It’s like having a dinner party on Saturday and having the caterers come on Monday. I recommend that you price it at market value so you can capitalize on the best buyers you’ll have.
Pricing Advice for Sellers: “But we paid more than that for it.”
Many owners connect cost with value when in fact there is no direct relationship. What you paid for something has nothing to do with what it’s worth today. I hear you say that the value of your home should be based upon the cost? Then let me ask, if you had inherited this home, that is, paid nothing for it, what would you try to get for it today? You would want as much as you could get. Why, when you wouldn’t have paid anything for it? Say you were the buyer and you asked what the owner paid for the home you were looking to make an offer on and you found out that they had inherited it. How would that affect your offer?
Pricing Advice for Sellers: “We can always come down.”
People tend to list their home starting thousands of dollars over market price. It doesn’t sell so they reduce the price. It still doesn’t sell so they continue to reduce it until it is at market value. What do you think happens? It doesn’t sell. Do you know why? What question do you ask me at the front door of every home I show you? You ask how long has it been on the market? You ask me that because a long market time creates the belief that it is overpriced or that something is wrong. That’s what happens to homes that are overpriced. They get sold below market price. So, you can come down, but it may be below market value.
Pricing Advice for Sellers: “We need the money.”
An owner’s need for money doesn’t affect the value of the home. Being objective about an asking price can be difficult when driven by a need for money. If you don’t get that extra amount, what will you do? You will either sell the home at market and alter things at the other end, or stay here and wait for the home to be worth more. If your decision is to stay, then obviously their need for money exceeds the motivation to move. What if you found a home to buy that was $12,000 overpriced, would you pay the extra amount if you knew the owners really needed the money?
If you follow this pricing advice for sellers, you have a better opportunity of being competitive in this economy; and therefore selling quicker. Please think about this pricing advice. It comes from years of experience!
Harrisburg PA Real Estate Expert
Ken Huebsch: Your premier real estate agent in the Greater Harrisburg area. I am a specialist in Harrisburg real estate as well as the communities of Palmyra, Hershey, and Hummelstown. My wife Leslye and I have a combined 40+ years' experience serving our clients -We KNOW Harrisburg. When you plan to buy or sell Harrisburg area real estate, allow us to work for you. We are dedicated professionals and are here for your success.
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