The Importance Of Proper Pricing

By Author: Thomas Mietzel
Total Articles: 13
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So you are planning to sell your home? Great! According to the statistics for the first part of 2012, Madison Wisconsin home sales are on the rise, as the country begins to rebound from the housing crisis. Increasing demand for properties to purchase indicates that the tide is turning toward more of a seller’s market. This is good news for you. A seller’s market, with a large number of potential buyers in proportion to the number of homes for sale, means a good likelihood of a higher price and fewer days on the market for your home. Of course, you need to do your part by sprucing up your property, finding a good real estate agent and deciding on an asking price.
Deciding on a price
When setting your asking price, it is most important to be objective. You may have fond memories of raising your family and watching your kids play in the yard of this home. On the other hand, you might want to sell quickly and get out as fast as possible. But take a few minutes to calm down and focus on your true goal: to sell your house in a reasonable amount of time, at a reasonable price. With this in mind, ask your realtor for ...
... a list of comps (comparatives), figures on recent Madison home sales of similar properties in your area. This is essential information for you to set the correct price for today’s market.
Overpricing
Some homeowners are tempted to start out with an asking price that is way above market value for their property. Their thinking is that they have invested in renovations or additions that put their home in a different league from their neighbors. Bear in mind, though, that not every buyer will find your renovations to their liking; they may be looking for a “fixer upper” that they can adapt to their own taste. Another seller’s mistake is to assume that if someone is really interested in buying, he or she will make a lower offer, and then the two sides can negotiate. This idea may backfire, however. If the Smiths down the block from you are selling a home very similar to yours, but asking for a realistic price, guess whose home will be first on buyers’ must see lists? Not yours, unfortunately.
Under pricing
The opposite mistake is to under price your home, hoping for a quick sale. Strange as it may sound, this can also turn off prospective customers, who probably have done their homework on Madison home sales prices. “What’s wrong with that one?” they may ask themselves. Or they might assume that you are absolutely desperate to sell. As a result they will make a much lower offer and perhaps demand more perks in the contract than if you had listed at a proper price. This is not to mention the fact that you will end up with less cash in hand.

To put more money in your pocket when you sell your home visit us at
www.HomeWithTom.com or visit our blog at www.MadisonHomeSales.com