Price is one of the five most important factors when selling your house. Here’s how we help sellers find the right price that will earn them top dollar in our market.
Choosing the right price for your home is one of the most important decisions you make when you sell it. In fact, it’s one of the five key factors that determines whether your home will sell or not. The other factors include the condition of the home, the market you’re selling in, your motivation, and the quality of the marketing your home receives.
As for pricing your home, you have to think in terms of competition. Since you’re not alone in the market and homebuyers are comparison shoppers, you want to attract buyers with a compelling price for your home. These buyers are shopping online and they’re shopping for value, but how do they determine it? Since they shop by comparison to determine value, they will compare homes online and compare them when they physically come to the home.
They will compare the features, benefits, and price of your home with the features, benefits, and price of similar houses that have recently sold or are currently on the market.
When we help you come up with a price for your home, our job is to anticipate what buyers will be thinking. We need to look at comparable homes and the current competition, but more importantly, we need to look at what actually sold and the price it sold at. Many houses are unique, so we’ll never find an exact match, which makes the task a bit harder. For that reason, we need to add and subtract from the price based on variations from house to house.
Our job is to anticipate what buyers are thinking.
There is almost always a range of prices for which a home sells, and we aim to sell your house at the very top of that range. Our team will take a look at the house to establish that range and even consult other experienced agents to come up with a price range. This information is especially important compared to automated data online, which can be helpful at times, but it can also be extremely misleading at times. You need to take it with a huge grain of salt. Even Zillow says they have errors in their valuation that can be 10% high down to 10% low.
I hope you found this information helpful when considering a price for your home sale. If you have any questions for our team or you’re looking to buy a home in the Washington D.C. area, give us a call or send us an email. We’d love yo help you out.
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