SELLING YOUR HOME: THE JOURNEY TO ACHIEVING THE HIGHEST POSSIBLE PRICE – PART 3

Part 3: Setting your price

In the last blog entry I touched upon the subject of hiring an agent. Naturally the next step, with or without an agent, will be to realistically set a price on your home. Considering all other aspects of your home sale journey (marketing, staging, right agent, etc) pricing truly is the key and catalyst that will help everything else mold into place.

The main step when setting up the price of your home is to do a comparable market analysis as potential home buyers will be doing the same thing when it comes to your home. As a seller, always be ahead of the buyer.

If you live in a housing bubble like most in the GTA are living in today – overpricing your home can be a reality. But for those that do not have this commodity, overpricing your home is a guaranteed way to not sell your home. When setting your price, you can decide on either setting it at a fairly assessed price and guarantee that your potential bidders will be informed buyers, or you can set the price low and prepare yourself for multiple offers, and a bidding war that can help push towards an over asking sale. Underpricing your home is good in theory and is a great strategy to generate extra interest in your home – the set back to this being that you will get a bunch of low ballers who may not be interested in out bidding others.

A well rounded and experienced real estate agent can take the hard work off of your hands and do the market analysis, home evaluation and comparative analysis while ensuring that your eventual home sale price is geared towards the correct market.

Learn more about getting a FREE HOME EVALUATION today!