When you consider selling your property you should first consider the elements of competition and motivation. Take a careful look at the market. See who—as well as what—is selling in your immediate area. Go to all of the open houses. Sounds elementary right? Maybe, but have you considered what your motivation is to sell? Your motivation is the key to properly pricing your property.
Let’s say you want to move to a smaller or larger home. That’s considered a soft motivator in this market, and until you find the right home, you may never sell. But what happens when you find the one?Are you prepared to make an offer?
First off, you may think you have to sell before you buy. Not true. Make an offer subject to the sale of your property. Under current market conditions, there’s a possibility that a seller will accept your offer subject to the sale of your property, especially if they’ve had zero offers while being on the market. Now you have a strong motivator to correctly price your property.
Perhaps you want to test the market? Seldom is this a great motivator to sell your home at its optimum price. It’s typically sellers who want to test the market that end up losing, either through time and/or money. The longer a property sits idle on the market, with no offers, the less likely it is to sell at or even near the original list price.
In the end it should be an experienced professional who guides you. But your motivation for selling will be the key factor in getting the price right from the very start! If you have any questions or would like to discuss your personal motivation for pricing, please do not hesitate to call me at 415.351.4627 or email email@example.com.