01 Sep Caution! Higher Asking Price to Recoup Investment?
It’s SO TEMPTING for Sellers to want their Real Estate Agent to list their home at a higher price because they’ve spent money fixing it up and/or Staging it.
…Insert Yellow Caution Tape Here…
There are 5 things that sell a house: Great Real Estate Agent, Price, Location, Perceived Value, and Condition. It’s true that Staging and other repairs and updates definitely improve condition. However, keep in mind that these things are done to prepare the home to compete at the price point already determined by the comps (previously sold homes in the area). The comps show what price range the market will support. Therefore, if your listing is ABOVE what the market will support, you’ll have a tough time selling it.The mistake that many Sellers make is assuming that since they’ve invested in creating a turn-key and desirable listing, they can ask more than market value. That’s not really the way it works. Here’s how it works: Fully preparing a home for market will make it COMPETITIVE. It will help it sell faster while potentially bringing in multiple offers. This is where the Return on Investment lies: Selling faster means paying less in mortgage interest, taxes, maintenance and utilities costs over time. Also, Buyers may get into a bidding war due to how fabulous your listing looks!
Now that you know all of this, there’s no need for Yellow Caution Tape! Trust your Great Real Estate Agent and list at a competitive price! Happy selling!
Ready for your listing to be competitive? I’m happy to visit with you! Simply email me at [email protected] or call 210-774-7373.
You can also visit the Home Staging tab on www.ImagineGurus.com
to see a succinctone-minute video explaining the importance of preparing / Staging.
Craving more brief & useful blogs, as well as helpful articles?
Visit our website blog page at www.imaginegurus.com/blog