Want to know what the secret is to selling your Anderson home?
It can be hard to figure out your home’s value in today’s real estate market. And making matters even worse is you could be biased by your emotions. Your emotions can get in the way of looking at your home honestly and this can cause sellers to overprice their home.
When selecting the list price, you need to be objective and reasonable so you can come up with a selling price that will capture the interest of buyers.
Here are a few examples of common mistakes people make when pricing their house for sale:
Using Websites Such as Zillow to Determine Home Values
Hey, I have preached about how inaccurate Zillow is in estimating home values in Anderson South Carolina. I will admit it is getting better, but when you are talking about a mistake that could cost you thousands of dollars, why risk it?
You should avoid relying too much on finding the sold prices of houses online. While it can be a good place to start to get a general idea of local property values, please remember that they are not always accurate.
Overestimating How Your Home’s Value Increased
Many people think that they can buy a home and it will just magically increase in value. The meltdown in real estate over the past several years should have taught every one this is NOT always true.
Sadly, you shouldn’t assume that you can sell your house for the same price that you paid for it. The real estate market is constantly changing and what you paid has absolutely nothing to do with your home’s value today.
Also what your home appraised for several years ago means nothing. Only a recent appraisal, within the past 90 to 180 days, should be considered.
Also the tax value does not tell you everything you need to know. Often it is about as accurate as Zillow. Which is NOT saying much…
Listing Too High So You Can Negotiate
Another HUGE mistake is thinking you should price your home higher so you have more room to negotiate. If you overprice your house, you will just turn off most serious buyers. Hey I understand that you want a fair price…
The Ugly But Honest truth is that buyers rule out overpriced priced houses. This means that your house could sit on the market longer and then the price will have to be reduced anyway.
Counting Your Chickens Before They Hatch
Don’t factor in the cost of the home you want to buy. This has absolutely nothing to do with the value if your home. Would you buy an overpriced home?
So why do you think anyone else will?
You do not select your list price based on how much you need to put down on your next home. Your financial situation and how much you need to clear when means nothing to buyers.
These are just a few common mistakes you should avoid when determining the price of your home. Listed at the right price, you will get a fair amount from the sale of the house and the buyer will be getting a reasonable price too. There is MUCH more to selling a home than selecting the right list price.
But selecting the right price is one of the most important thing YOU can do!
As always, if you have any questions about real estate in the Anderson SC area, please do not hesitate to contact me!