Real Estate Watch – Berkshire Hathaway
Pricing Mistakes Home Sellers Make
We have met with countless home sellers to discuss the possibility of selling their homes. The most important part of the conversation is always pricing the home appropriately. This always depends on the reasons for selling. Are the sellers moving out of the area as a relocation? Are they downsizing or moving up? How long do they have to sell?
According to Joseph Rand with Inman.com, there are several massive pricing mistakes sellers make. He says the #1 biggest mistake is trying to price your home based on the unsold homes and not the sold homes. You should be looking at the unsold homes as a reference for what needs to be done to beat those homes and get yours sold.
Overvaluing amenities and improvements also causes pricing mistakes. Some of the items you feel are amazing amenities may not be of importance to the buyers. Sellers also need to remember that if you do an extensive kitchen remodel which cost $50,000, you will not get the full $50,000 of value when you sell.
Finally, in the end the seller is only going to get what the buyers are willing to pay. So be realistic and use the information your real estate agent provides you to make an educated decision. The most important part is starting off right with experienced agents. Call us! As 2015 Chairman’s Circle Platinum Award Winners, which places us in the top 1% of real estate agents nationwide, we are your first and only call for all of your real estate needs.