Home Sellers Guide Part 5 – The Right Price

The right price affects your bottom line

When you’re selling your home, the price you set is a critical factor in the return you’ll receive. That’s why you need a professional evaluation from an experienced REALTOR^®. This person can provide you with an honest, and unbiased assessment of your home, based on several factors including:

• Market conditions
• Condition of your home
• Repairs or improvements
• Time frame

In real estate terms, market value is the price at which a particular house, in its current condition, will sell within 30 to 90 days, as well as what the potential buyer is willing to pay for this home under these same conditions.

If the price of your home is too high, several things could happen:

• Limits buyers. Potential buyers may not view your home, because it would be out of their buying range.
• Limits showings. Other salespeople may be less reluctant to view your home.
• Used as leverage. Other sellers may use your home to sell against homes that are better priced.
• Extended stay on the market. When a home is on the market too long, it may be perceived as defective. Buyers may wonder, “what’s wrong,” or “why hasn’t this sold?”
• Lower price. An overpriced home, still on the market beyond the average selling time, could lead a lower selling price. To sell it, you will have to reduce the price, sometimes, several times. In the end, you’ll probably get less than if it had been properly priced at the start.

We have known it for years – Well-kept homes, properly priced in the beginning always get you the fast sale for the best price! And that’s why you need a professional to assist you in the selling of your home.

Jared & Rebecca Chamberlain
www.ChamberlainGroup.ca