Want To Sell Your House
Last year, the housing market slowed down in response to higher mortgage rates, and that had an impact on home prices. If you’re thinking of selling your house soon, that means you’ll need to adjust your expectations accordingly. As realtor.com explains:
“. . . some of the more prominent pandemic trends have changed, so sellers might wish to adjust accordingly to get the best deal possible.”
In a more moderate market, how you price your house will make a big difference to not only your bottom line, but to how quickly your house could sell. Pricing a home correctly in 2023.
Here is why Pricing Your House Appropriately Matters
Your asking price sends a message to potential buyers.
If it’s priced too low, you may leave money on the table or discourage buyers. A lower-than-expected list price (10% under market value or more) usually indicates something is wrong with the home.
Price it too high and you will deter buyers. When this happens, you will have to lower the price to try and reignite interest. What are the risks of a price drop or a home on the market for a while? Some buyers will view this as a red flag and skip the home. A smaller number of buyers will feel emboldened, like there’s blood in the water. This buyer will offer much lower than list price. Also be assured they’re going pull no punches after an inspection.
Pricing it right from the start will help avoid these headaches. A Realtor knows how to help a seller determine that ideal asking price. They balance comparable homes, current market trends, buyer demand, home condition and more to find the right price. This helps lead to stronger offers and a greater likelihood your home will sell quickly.
The visual below helps summarize the impact your asking price can have: