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The Importance of Pricing Your Home Correctly

If you’re thinking of listing your Triangle Suburbs area home, you’ve probably started thinking about the things you’ll need to do to get it ready to sell. Maybe you’ve read up on home improvements with the best return on investment or started calling cleaning companies to get estimates.

While the overall appearance and condition of your home is very important when it comes to selling, it’s not as important as setting the price right from the get-go. Here’s why pricing your home correctly is so critical.

Buyers Won’t Overpay for a Home

buyers looking at a correctly-priced home in the triangle

The value of a home is determined by the buyer. In short, that means a buyer isn’t going to pay more for your home than they believe it’s worth. Overpricing your home doesn’t “leave room for negotiation”, as many sellers hope, or attract higher-end buyers. The only thing overpricing does is make your home unappealing.

The Right Price Attracts the Right Buyer

home buyers in the triangle shopping for correctly priced homes

When you set your listing price equal to your home’s market value, you’ll attract buyers that are looking for homes like yours. Because market value is determined by buyer demand and is based on the value of similar homes in the area, your home will be seen alongside competitive homes by buyers who are looking for that kind of home.

Pricing your home too high, on the other hand, will place it in a market with higher-end (yet still similarly priced) homes, where it will likely be overlooked by buyers looking for higher-end homes.

Your Home Will Sell Faster

sold home in the triangle

There’s nothing worse than trying to sell a home and having it sit on the market… and sit… and sit… until finally you’re forced to drop the price. This is often what happens to homes that aren’t priced right. Not only does this cost you time and money (especially if you’ve already had to move or buy a new home), it will make buyers wonder why your home’s been sitting on the market so long—what’s wrong with it?

Buyers Will Feel Confident in Your Home

excited buyers buying a home in the triangle

Ok, so we’ve established overpricing is bad. But what about underpricing? Surely a low-priced home will attract a lot of buyers and even start a bidding war, right? Well… maybe not. If a home’s priced too low or seems like a really good deal, buyers might start to wonder if it’s too good a deal, if there’s something wrong with it.

Not only could this cost you buyers (not resulting in the bidding war you’d hoped for), it could also cost you money.

Price Your Triangle Suburbs Home RIGHT!

If you’re thinking of selling a home in the Triangle Suburbs, let us help you price is competitively and correctly! At Ann Milton Realty, we’ve got decades of experience buying and selling homes in the Triangle Suburbs, so we know a thing or two about pricing houses. We want to help you price your home right, get it looking its best, and sell it with ease.

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