If you’re planning on putting your home on the market, determining your asking price is one of the most important decisions you will make. Don’t be fooled into thinking you can start off with a high asking price, and then just cut the price later if you need to. If you want your house to sell quickly, overpricing is not a good strategy.
When you price your home too high, potential buyers will likely ignore the listing. Then, when you eventually drop your price, buyers will see just how long the house has been on the market and they’ll assume you’re a desperate seller (which you may be at this point). It sends the signal that there is room for even more negotiation. And if you price too low, well, no one wants to leave money on the table. So how do you go about determining a fair price?
Use your agent
This may seem like a no-brainer. But rather than just listening passively to what your agent recommends, or on the flip side, insisting that you know best, engage in a real conversation about what buyers are looking for in this market and how your home stacks up. Are there improvements you can make so buyers would be willing to pay a higher price? Discuss your timeline to sell and if you should price differently based on that timeline.
We are active, busy Real Estate professionals and we would be more than happy to answer your questions and assist you in determining the value of your home. Pricing your home correctly is critical! We have superior knowledge about the Ventura County Market and will be able to take into consideration the local market, the competition and the current condition of your home; all the factors discussed in this article. Call us today for a free market evaluation of your home!
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