How Pricing and Packaging your Home for Sale Go Hand in Hand
Arguably the two most basic essentials when selling your home are attractive pricing and
packaging. Since no two homes are the same, making that distinction between your home
and the dozens of others is key.
There are several things you should consider -
• Study current and past sales. Take the time to study past sale statistics for homes in
your area and areas similar to yours. This will give you a a clear understanding of true
market value and it is the first step in establishing your list price.
• Active Listings vs. Past Sales There is a significant difference here. Active listings have
not sold, but they are your competition. It is important to be aware of your competition's
pricing, but this is often just an indication of what your home won't sell for.
• Overpricing because you “have time” is a no-no. This may work if the market is
depreciating, but if prices in your area are declining, you may find yourself chasing the
market and costing yourself money. If the market is stable, your home will just sit. Time
is rarely on your side.
• Negotiation is a plus. No seller wants to feel shortchanged, and no buyer wants to
• Both parties need room to maneuver, but if it is too high, buyers will pass over your
• Think like you are the buyer. What are some things that you value in a home? It may be
a large yard for your dog, a spacious kitchen or a mountain view. These are likely the
same things that your buyer values as well. Properties that have desirable qualities are
much easier to sell.
• Make swift decisions. If you receive feedback that you are priced too aggressively, or it
is not being shown enough, don’t hesitate to adjust your price.
Studies have shown that the first two weeks on the market are the most crucial to your being able
to sell. First impressions are everything. It is during these initial days that your home will be
exposed to all active buyers. You have one chance to grab attention.
To find the price that is just right, you can use a comparative market analysis (CMA) and see
comparable home sales in your area to help you determine market value.
Give us a call - we can help!