Selling Your Home: Effective Pricing Leads to Success

10 Steps to Selling Your Home Series

Selling a home in today’s complex real estate market can be stressful and difficult. However, choosing to work with experienced agents like The Treasure Coast Home Sales Team will ensure that things run as smoothly as possible.

Here is the second of our ten step overview of what the typical home selling process in Florida is like...

Step Two: Effective Pricing Leads to Success

According to a recent report, about 90% of homebuyers surf the Web to begin their home search. That means home buyers are well aware of what properties are available on the market and the prices they are selling for. Therefore, now more than ever, pricing is the key to selling your home.
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Some sellers think that a higher price will give them some negotiating room. But in fact many buyers don't even look at a property that is overpriced, much less make an offer on it.

This can lead to the property's becoming "shop-worn." Buyers often inquire about the length of time a property has been on the market. If it has been on the market a long time, they wonder if there is something wrong with it. The sellers then have to drop the price, taking less than they might have if they had priced it correctly to begin with.
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Homes that are well-priced attract the buyers in their price range. The buyer's perception is that the home is a good buy, and then the seller is positioned to receive the listing price or close to it.

Please watch for our next informative post: Staging Your Home or contact us now for a personal, no-obligation consultation on the current real estate market and an analysis of your home.

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Housing Market Update: Properly Priced Homes Sell Quickly

May housing trends for Palm Beach County: properly priced homes sell quickly while overpriced homes languish.

Read more: Palm Beach County home sales up; time it takes to sell a home down...

10 Steps to Selling Your Home Series

Selling a home in today’s complex real estate market can be stressful and difficult. However, choosing to work with experienced agents like The Treasure Coast Home Sales Team will ensure that things run as smoothly as possible.

Here is the first of our ten step overview of what the typical home selling process in Florida is like...

Step One: define your needs and write down all the reasons for selling your home.

Ask yourself, “Why do I want to sell and what do I expect to accomplish with the sale?” For example, reasons for selling may include a growing business that needs more space or a job opportunity that necessitates a move to another city. Things you want to accomplish with the sale may include the time frame in which you’d like to sell or a particular profit margin.

Please watch for our next informative post: Pricing Strategy or feel free to contact us now to schedule a time to discuss how we sell homes in greater Stuart, Florida.

Preparing Your Home to Sell: 5 Reasons Why Quality Paint Matters

One of the easiest and least costly ways to make a dramatic change in your interior décor, repainting a room is often just what’s needed to change your home’s look and feel. However, your great design inspiration can be shortchanged if you choose low-quality paint. Here’s why. Read More!

Why Overpricing Can Hurt Sellers

Common Problems with Overpricing a Home

All sellers want their home to sell for the highest possible price. This is one reason  why it’s so easy for agents to “buy” listings. If you’re not familiar with the concept, “buying” a listing is when an agent (unscrupulously) tells a client their home is worth far more than the market value in order to win the listing.

Sellers are susceptible to this tactic because they want to believe, however irrationally, that their home is for some reason or another worth more than comparable homes on the market. Sometimes, though, sellers believe high home pricing is either an acceptable risk or even a benefit. Here’s what they say, and why it’s a problem:

1. “I can always come down in price later if I have to.”

Yes, it’s possible that someone will find the house irresistible and pay the inflated price, but the odds are the house will languish on the market until the price comes down. Buyers, though, will see this from a different perspective. They’ll be thinking: What’s wrong with the property? Maybe I can get this house for significantly below market value. Holding out for a high could end up leading to a desperation low.

2. “I have to keep the price high for negotiating purposes.”

A house isn't a used car. Don’t start far above what’s acceptable in order to pad out the negotiations. Buyers will have access to the same market data, and their agent will have a pretty good idea what the home’s true market value should be. The ruse will quickly come to pieces, so why not price right for a quick, fair sale?

3. “This is the price I need to get for my house.”

If that’s true, sellers should also prepared to stay put when the house doesn’t sell. Despite dire and important reasons why lower offers can’t be accepted, the market is indifferent to the seller’s situation. There are other homes and other sellers unencumbered by the same reasons.

4. “A house just like mine sold for this price… so why not mine?”

Sellers will assume houses are identical when the final price tells sweet story. Odds are there are other outstanding reasons the home sold above market value, especially when it comes to interior renovations.

I’m happy to give you an accurate valuation for your home. Let’s talk!

This post has been authored by Eric Slifkin, REALTOR® and Accredited Buyer’s Representative serving South Florida’s Treasure Coast. You can reach me at 888-288-1765, or visit my Web site. As your resource for information on new or resale homes throughout the Treasure Coast, please be sure to contact me about any home you may find on the Web, yard sign or ad and I will research the property, arrange showings and handle all the details.