Last week we went over what you need to do to get your home ready to go on the market. Those things sounded simple, right? So you have the cleaning crew coming out, the honey-do list made up, and you are just about to pick up the phone…
Wait. Sit down, and let’s talk.
The absolute most important thing we need to discuss before you sign a single piece of paper is PRICE.
Ugh. You hate this part, right?
We know. And here is the truth. So do we. Who likes to talk money? Who likes to discuss their finances, open their books, fess up their bottom line? No one, I promise you. But here is the thing. Our job is to help you get the most out of your home in the timeframe in which you want to sell it. Did you catch that last part? In the time frame you want to sell it.
Pricing and time on the market go hand in hand, it is a proven fact.
Pricing to sell means something different to each and every seller. There are so many factors when it comes to selling a home that it makes it impossible to know EXACTLY what each home will sell for, or why a certain home sold for one price and the house two doors down was completely different. We can only review the data on hand, and then narrow down two of the biggest things that come into play when it comes to pricing your home.
Why and When.
There are many factors that go in to the pricing of a home to sell, and while it may seem as simple as plugging in your address into Zillow or Trulia, getting a price and sticking a sign in the yard, it is not. Your home, your needs, your finances are unique to you.
Why?
Why are you moving?
Starting to outgrow your home? Just want something different? Thinking of a custom build or want more land?
Or, is there something driving you to move-a job, an illness, a or financial hardship?
All good reasons to move, but each can affect how to price your home.
When?
When do you want to move? Before school starts? Over winter break? Does that new job start in two months and you can leave but your family can stay behind? Is your build time 8-9 months or is that new home already under contract and just waiting for you? Each of these scenarios can affect pricing.
Being able to narrow down a price that you are comfortable with is what we are here to help you figure out. That means taking into consideration the days on the market-something that many people forget to do. Sure the house down the street sold for $20k more, but if it took almost a year to do so, is that going to be okay with you? did they reduce 3-4 times while it was listed? Did you know that houses that reduce the list price typically take 2-3 times longer to sell? Can you afford that time? Or do you want to be more aggressive?
Your home, your needs, your finances-your why and when are unique to you.