Why It’s Critical To Price Your Housz Right

When you make a move, you want to sell your housz for the highest price possible. That might be why many houszowners are eager to list in today’s sellers’ market. After all, with record-low inventory and high buyer demand, many houszes are selling for more than asking price. Data from the National Association of Realtors (NAR) shows 46% of houszes are selling above list price today.

But even in a market like we have now, working with an agent to set the right asking price is critical, as pricing it too high or too low could have a negative impact on your final sale. Here’s why.

Pricing Your Housz Right Is Crucial Even in a Sellers’ Market The price you set for your housz sends a message to potential buyers. Price it too low and you might raise questions about the condition of your housz or lead buyers to assume something is wrong with the property. Not to mention, you could leave money on the table, which decreases your future buying power if you undervalue your housz.

On the other hand, price it too high and you run the risk of deterring buyers. When that happens, you may have to do a price drop to try to re-ignite interest in your housz when it sits on the market for a while. But be aware that a price drop can be seen as a red flag for some buyers who will wonder why the price was reduced and what that means about the housz. In other words, think of pricing your housz as a target. Your goal is to aim directly for the center – not too high, not too low, but right at market value. Pricing your housz fairly based on market conditions increases the chance you’ll have more buyers who are interested in purchasing it. That makes it more likely you’ll see a bidding war, too. And when a bidding war happens, you’ll likely get an even higher final sale price. Plus, when a housz is priced right, it tends to sell quickly.

To get a look into the potential downsides of over or underpricing your housz and the perks that come with pricing it at market value, see the chart below:

Lean on a Professional’s Expertise To Price Your Housz Right There are several factors that go into pricing your housz and balancing them is the key. That’s why it’s important to lean on an expert real estate advisor when you’re ready to move. A local real estate advisor is knowledgeable about:

• The value of properties in your neighborhood

• The current demand for houszes in today’s market

• The condition of your housz and how it affects the value

A real estate professional will balance these factors to make sure the price of your housz makes the best first impression and gives you the greatest return on your investment in the end.

Bottom Line Even in a sellers’ market, pricing your housz right is critical. Don’t rely on guesswork. Let’s connect to make sure your housz is perfectly priced.