When you work with top-selling agents in your market, they’ll be able to guide you through one of the most essential aspects of selling your home — setting the right price for your listing.
Why Is Pricing Your Listing Correctly So Important?
Top-selling agents always leverage competitive strategies when pricing homes for sale.
Not only does this help the listing perform strongly on the market, but setting the right price for your listing will attract more serious buyers that can actually afford to close on your home.
When homes are not priced correctly, buyers who place offers financed by a mortgage loan may not be approved by the lender when the results of the property appraisal reveal a different fair market value for the home. After all, mortgage lenders secure their position by ensuring that the home’s being purchased with their loans are priced correctly.
In these cases, sellers would need to adjust the sale’s terms and negotiate with buyers. If the accurate sales price does not meet the buyer’s budget, this may result in the transaction being terminated — meaning that sellers would have to return to the marketplace to find a new buyer.
While buyer demand remains remarkably high as we move forward into the 2022 market, sellers should still work hard alongside top-selling agents to ensure that their home is priced correctly from the start.
Secrets of Top-Selling Agents for Pricing Your Listing
Most sellers know that you need to consider local market trends and comparables when setting a price. But, let’s take a look at the higher-level strategies that top-selling agents use to successfully sell a home.
Read on to learn these three secrets of top-selling agents for pricing your home for sale.
#1. Think About Price Search Filters
For the majority of buyers, the first step taken during the house-hunting process is to browse listings online. Top selling agents know how to work this trend to their seller’s advantage by considering price search filters.
MLS websites can filter listing results based on price points. Knowing the cutoff brackets commonly used on listing websites allows sellers to place their homes within the category that will drive the most traffic toward their listings.
For example, listing websites may filter search results for listings up to $300,000. If you price the home at $305,000, it would not come up for buyers shopping below $300,000 — even though it’s just a $5,000 difference.
Instead, pricing the listing at $300,000 or slightly below would allow you to capture buyer leads shopping in your relative price range.
#2. Don’t Ignore Visual or Auditory Disturbances
After living in a home for a long time, it’s easy to ignore the ear sores and eyesores in your area. However, disruptive sounds and unappealing views should be fairly factored into your home’s price point.
For example, a large building blocking your waterfront views or a loud intersection across the street could impact your listing price. If you don’t consider these circumstances and only focus on the positive aspects of your home, it could be a red flag for buyers.
Top selling agents know how to address these issues without undervaluing or overvaluing your home’s worth.
#3. Keep a Clear Head
Selling a home is undoubtedly an emotional experience. However, top-selling agents will always help their clients maintain a clear, logic-driven outlook rather than getting clouded by emotions.
It’s not uncommon for sellers to be biased when it comes to pricing their homes, even if it’s unconscious. Sentimental value and emotional connections can push sellers to feel that their home’s value should increase accordingly.
While the memories made in a home are priceless, top-selling agents will help you maintain the proper perspective to set a data-driven, fair price for your listing to streamline the sale.
Find a Top Agent in Your Area
As you can see, hiring a top-selling agent can make a huge difference in your listing’s market performance when it’s up for sale.
Getting connected to top-selling agents in your community has never been easier than with RealEstateAgents.com. Compare, review, and choose your best-suited agent from search results of the most successful agents in your area.
To access more secrets that top-selling agents tell their clients, explore more articles by RealEstateAgents.com.