When it comes to selling your own home, setting the right list price can significantly impact your success in the real estate market. homeFree's approach to competitive pricing emphasizes the importance of starting with a competitive list price. What re the factors to consider when setting your list price? Why does the right price from the start make all the difference?
At homeFree, the first factor to consider is how to use your pricing advantage, as you will not be paying the high costs of real estate commissions (and average of $20,000 in Alberta). Do you wish to use this advantage to price your home more competitively? Keep more equity in your pocket? Share these commission savings with your buyer?
Homeowners often face the dilemma of whether to start with a higher list price and negotiate down or to opt for a competitive price right from the start. homeFree believes that beginning with a competitive price is a key strategy for attracting potential buyers and securing a successful sale. This approach counters the common inclination to start high and engage in negotiation later.
Contrary to conventional wisdom, data reveals that homes listed at a competitive price from the outset tend to yield higher profits in the end. Starting high and negotiating upwards doesn't necessarily lead to increased earnings. Those who list their homes with a competitive price experience better financial outcomes compared to those who aim to extract as much money as possible by initially overpricing and later reducing the price.
In a competitive market such as the real estate industry, timing plays a crucial role. Homes that are priced competitively attract early interest from potential buyers and, as a result, sell faster. Overpricing a home can lead to an extended time on the market, eventually resulting in what experts refer to as a "stale listing." Homes that linger on the market for too long may raise concerns among buyers and convey the impression that something might be amiss with the property. After all, buyers are savvy when they are searching for potential homes that meet their search criteria. If your home comes to market overpriced, they may assume you are not a serious seller or that the difference between competing properties and yours it too great that they will choose to not even contact you.
Setting your list price at market value at the onset is a strategic approach to home pricing. This involves researching and comparing your property's price to that of comparable listings that have recently sold and are currently listed in your area. By pricing your home in line with these market values, you enhance its appeal to potential buyers and increase the likelihood of a successful sale.
The world of real estate is dynamic and competitive, making the right list price an essential factor for a successful home sale. homeFree's emphasis on competitive pricing aligns with data-driven insights that show the effectiveness of starting with a competitive list price. By pricing your home in line with market values, you attract early interest from potential buyers, ensure a faster sale, and maximize your profits.
As you embark on your home selling journey, remember that a competitive list price can be the key to a successful transaction in the bustling real estate market. Use the homeFree Advantage of commission savings to help get your property on the market as the most competitive price.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA.
References to MLS® System listings and advertising on REALTOR.ca on this website are made in connection with the services provided by Global Empire Corporation brokerage who is licensed to trade across Alberta.