When you make a move, you want to sell your house for the highest price possible. That might be why many homeowners are eager to list in today’s sellers’ market. After all, with record-low inventory and high buyer demand, many move-in ready homes are selling for more than asking price. Data from the National Association of Realtors (NAR) shows 46% of homes are selling above list price today. They’re also selling quickly, so if you need to sell your house fast then now is a great time to list.
Even in today’s market, though, setting the right asking price for your house is critical, as pricing it too high or too low could have a negative impact on your final sale.
Our team here at MarketPro Homebuyers has become a trusted resource to homeowners in the DC, Maryland, Northern VA, and Pennsylvania areas. We’d like to review why the right asking price is so important if you’re going to sell your home on the open market, share some tips for setting the price correctly, and introduce one method of selling that removes the risk of setting the wrong price.
Why it’s critical to price your house right:
The price you set for your house sends a message to potential buyers. If you price it too low, you might raise questions about your home’s condition or lead buyers to assume something is wrong with the property. Undervaluing your house also leaves money on the table, decreasing your buying power for your next home.
Of course, buyers will also be deterred if you price your house too high. When that happens and the home sits on the market for a while, you may have to do a price drop to try to get new interest. Be aware though that a price drop can be seen as a red flag for some buyers—they may wonder why the price was reduced and what that means about the home.
Pricing your house properly increases the number of buyers who will be interested in purchasing it. This makes a bidding war more likely, too. If a bidding war does occur, you’ll get an even higher final sale price. Plus, when you price it just right, you’ll sell your house fast.
Tips for pricing your house right:
If you work with a real estate agent, they’ll help set the price for you. They’ll look at comps (recently sold homes similar to yours in the same area), your home’s condition and amenities, and the current competition on the market. Different agents will set different prices, so it’s important to find an agent who has a record of success in this area. If you do decide to work with an agent, make sure you take into account the commissions that will reduce your final takeaway.
If you’re selling FSBO, you’ll be setting the list price yourself. You’ll need to consider the same factors a real estate agent considers. Selling FSBO can be beneficial but also risky; you save on a seller’s agent commission, but it’s difficult to price your home properly without real estate experience.
Finally, if you want to avoid paying real estate commission but don’t want to risk pricing your home incorrectly, there’s one last option. You can choose a truly no-commission, no-risk home sale by selling to us at MarketPro.
Work with MarketPro
When you sell to MarketPro Homebuyers, you do away with commission, fees, and the risk of pricing your home too high or too low.
Here’s how: We’ll give you a fast cash offer for your current home just as it is now. Our team will walk you through your quote, including a review of what your home would likely bring on the open market. You won’t have to worry about repairs, marketing, or open houses. Everything we do is designed to make the process smooth and hassle free for our clients.
If you’re in Washington, D.C., Maryland, Virginia, or Pennsylvania, we’d love to show you how you can sell your house fast and with zero stress. Contact us today for a no-pressure quote.