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Setting the Right Price

The mistake of over pricing or under pricing your home can have significantly opposite effects and disadvantages. While over pricing will make you more comfortable about negotiating down, for example, it will also make your home less appealing to many prospective buyers who would be the right match for your property. Under pricing your home will draw many buyers, but the chances of regretting your sale will most definitely increase, as you will lose a good deal of the investment you have built over the years.

Professionals like myself advise the following approach when setting the right price for your home:

First, consider your needs. You may be in a situation where you want to sell as quickly as possible, or you may have all the time in the world. Be clear about this with me, so that I can coordinate the right strategy so that your needs are met.

Second, look at the condition of your home. The sentimental value you place on your home has no value to buyers – only what they see (as opposed to feel) will convince them to meet your asking price. Put in the effort to improve the condition of your home to you can set the right price.

Third, evaluate the competition. Similar homes that are on sale in your neighborhood are a great barometer to go by. You can compare your property and, with your Realtor, evaluate the way they are pricing. Your competition may be doing it right, or you may learn that they are over pricing their home and you can use that information to your advantage.

Whatever you decide, working with a Back Bay, South End, and Beacon Hill Realtor like myself can make a difference. Contact me today.

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