How Do I Price My Home?
Pricing a home for sale is incredibly important. The best advice is to hire a Realtor you trust. Trusting your Realtor to price your home so that you get the highest possible offers, goes a long way.
But…How do I know I can trust my Realtor? Yes, some Real Estate agents exist who will push you to price it below market for the sole reason that THEY want a fast sale..that isn’t who I’m talking about. A great Realtor knows the market where you live and can show you the current trends that property is typically selling for above, at or below list prices. Unless your property is incredibly unique, it’s probably going to tow the line with the same statistics.
Interview several Realtors and ask them where they would price your home. Don’t give them any hints…make them tell you and then justify why they would price it where they would. Don’t list with the agent that gives you the highest price if it doesn’t make sense to you.
Typically property won’t sell below market value, meaning if it is under priced you will get multiple offers (provided it’s marketed appropriately,) and it will sell for what the market will bear. If you over price your property in a market where that is not the trend, you will tend to get less than if you had priced it lower.
At the end of the day, pricing a property is a skill and an art and great Realtors don’t want to leave a penny on the table when they have been hired to represent your property.