If you’re gearing up to sell your house this spring, you have every advantage as a seller, unless you price your home incorrectly. Pricing is Key for Spring and Summer Selling in 2024. With limited inventory and increased buyer activity this spring, you are seeing some of the best selling conditions all year. But when sellers set homes at prices that are either too high or too low, you ultimately lose time and money. Let’s discuss the pitfalls of overpricing and the best ways to get the best value for your home.
First, let’s talk about the pitfalls of overpricing. So many sellers think that since the demand is so high that buyers are just going to pay over value to secure a home. This is not the case. Setting an inflated asking price can backfire, deter buyers and you may not get them stepping in the door. Here is one example, if your home is 4 bedrooms but is priced where most five bedrooms would be, buyers will gravitate towards more square footage and all of the statistics and comparisons are at their finger tips. Especially on The Main Line where luxury real estate is the norm, buyers are savvy and will be able to see when a home is overpriced. According to U.S. News Real Estate:“Even in a hot market with high demand, buyers are less likely to consider a home with an inflated asking price.” Overpricing can lead buyers to skip over your listing entirely, which will prolong the time your property sits on the market.
Let’s now discuss how an agent plays into pricing your home for sale. True an agent has not lived in your home and does not have the attachment, and this is precisely the reason you want an agent to list it and price it. Main Line PA agents that are reputable have decades of experience that support their pricing strategies. They understand what the market is doing and what your home is realistically worth. They have buyers and have listed homes around you. They know that if you are serious about selling the price has to be right.
How do an agent and a homeowner arrive at the right price? To determine the optimal asking price, an agent conducts thorough research, considers a home’s condition, its recent upgrades, and comparable sales in your area. This analysis ensures that it is priced correctly against competition. Setting the right price from the outset increases the likelihood of multiple offers and a swift sale. Properly priced homes generate more interest and sell faster.
It might be tempting to maximize your profit, but strategically pricing your home using the assistance of a realtor is ultimately a time and money-saving. To set the right price for your house, ensuring you achieve your goals, connect with Kimmy Rolph.
If you would like to read more tips for sellers in 2024 like Pricing is Key for Spring and Summer Selling in 2024, read here!
