Everybody wants to make a profit off their real estate. It was supposed to be the biggest, best investment you’d ever made. But the truth is if the market’s not in your favor, you may have to bite the bullet on your asking price. 17% of home sellers must delay their plans to sell because they owe more on the home than it is worth. If you base your asking price on how much you still owe on the mortgage, you are almost certainly going to overprice your home!
Find a Trustworthy Agent
A lot of real estate agents will tell you exactly what you want to hear when it comes to the value of your home. They do this because they want to secure your business. The truth is however, they won’t be able to sell it at the price you have in mind. They’ll present low-ball offers to you and encourage you to accept even though you’ll be disappointed.
An overpriced home will NOT lure buyers, and you will limit yourself to a very narrow market. You need to find yourself a good agent who knows that setting a reasonable price around the market value is the best way to sell a home. Find an agent who is there to cooperate with you, listen to your input, and understand the true value of your home before you put it up for sale. He or she may not always tell you what you’re hoping to hear, but at least you can trust that your home will sell at the best possible (realistic) price.
Look at How Long Your Home Has Been on the Market
Did you list your home for what you thought to be a reasonable price and then watch it sit on the market? Has it been more than 30 days on the market? If so, your home is most likely overpriced, which could be why no one is trying to buy it.
What Can You Do?
There are many reasons why your home may not be sold as quickly as you would like it to be. The best advice to take from this is to find an agent who knows what they are doing. You do not want to work with an agent who tells you an astronomical value to make you believe your home is worth more than it is simply to get you to sign with that agent. You want to work with an agent who has experience, expertise, and honesty is the type of agent who will find you a great value for your home that is not overpriced among the other homes in your neighborhood. By pricing your home as accurately as possible, you will find buyers flocking into your open house and willing to make an offer. We buy houses in Trenton.
Be sure to lower your home’s sales price if it is overpriced after you and your agent have closely examined the market in your neighborhood. By being honest, upfront, and pricing your home reasonably, you and your agent should be able to sell your home in no time! Just be sure not to step on any buyer’s toes . . . or wallets.