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If you’re thinking about selling, here’s something you really need to know. While home prices are still appreciating in most areas, they’re climbing at a slower pace because higher mortgage rates are putting a squeeze on buyer demand. At the same time, the supply of homes for sale is growing. That means buyers have more options and your house may not stand out as much if it’s not priced right. These two factors combined are why the asking price you set for your house is so important.
Some sellers are finding out the hard way, leading to price reductions. They haven’t adjusted their expectations to today’s market. Maybe they’re not working with an experienced agent and aren’t basing their pricing decision on the latest data available. If you want to avoid making a pricing mistake that could turn away buyers and delay your sale, you need to work with a broker who really knows your local market’s current data. If you lean on the right one, they’ll help you avoid making mistakes like:
Setting a Price That’s Too High: Some sellers have unrealistic expectations about how much their house is worth. That’s because they base their price on their gut or their bottom line, not the data. An agent will help you base your price on facts, not opinion, so you have a better chance of hitting the mark.
Overestimating Home Improvements: Sellers who have invested a significant amount of money in home improvements may overestimate how much those upgrades affect their home’s value. While certain improvements can increase a home’s appeal, not all upgrades are going to get a great return on their investment. An agent factors in what you’ve done and what buyers in your area actually want as they set the price.
Ignoring Feedback and Market Response: Some sellers may be resistant to lowering their asking price based on feedback they’re getting in open houses. An agent will remind the seller how important it is to be flexible and respond to market feedback in order to attract qualified buyers.
Not understanding local consumer behavior patterns: Some sellers don't understand the importance of receiving favorable seller's terms. An experienced broker can explain why it matters and how to have buyers offer exactly what you're looking for.
You can count on me to stay on top of the trends, statistics, and rhythm of the market. It is my goal to gain knowledge and understanding to help keep you informed. This level of service helps empower my clients to make thoughtful sound decisions when navigating investments and big life decisions.
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