Without a doubt, the first question on anyone’s mind when they decide to sell their home is, “how much is it worth?” Some agents will tell you that the value is whatever someone is willing to pay. But deciding what to list your home for shouldn’t be a guessing game. It’s important to know your options, and what the market calls for.

There are three ways to approach pricing a home. First, you can underprice it. This means listing it for sale at a price that is less than what you want. In some market conditions, underpricing can bring more interest or even multiple offers. Underpricing can also mean that you are attracting unqualified buyers or inviting ‘lowball’ offers.

The second strategy is to overprice the home – listing it above the current market value. This strategy has risks as well. In some market conditions this may mean that the home sits on the market longer or requires price reductions later.

The third pricing strategy is to price the home at current market value. This means taking into consideration all of the current conditions, available inventory and demand, and pricing the home for an amount that is in line with the market. Typically, this strategy is the most effective for attracting the most qualified buyers.

It’s my job to help you look at all of the current market conditions and make the best decision when pricing your home. Ready to get started? Give me a call.