Overpriced HomePrice Your Home to Sell

As an experienced Listing Agent my job is to educate sellers on current market conditions and pricing strategies to get their home sold. Pricing plays a huge part of a successful marketing strategy. A professional Realtor knows 80% of marking is getting the property priced right, and that no amount of marketing is going to sell an overpriced house. 

Some things to consider when pricing your house to sell:

1. Don't Over Improve

Sellers typically overvalue their home compared to other homes on the market hoping to recoup 100% of the home improvements they have made. Rarely do you get dollar for dollar back on home improvements. Yes I advise my sellers to make basic home improvements like paint, carpet, update appliances because it is necessary to compete in today's market place, but sellers are best advised not to over price their homes based on home improvements they made themselves over the years as they can price themselves out of their neighborhood and in doing so will help sell other homes on the market that are similar in size and features but priced below their house.

2. Don't Calculate Your List Price with Active Listings

Sellers typically look at whats on the market and want to list accordingly. Active homes on the market rarely sell for their asking price. In Loudoun County homes sell on average at 97% of their asking price. Knowing this you can price according to the sold comps and position yourself amongst the active listings to be the next house to attract an offer from a buyer.

3. Overpricing Because You Have Time

The first 10 days your house goes on the market is when it will attract the most attention from serious buyers. If you are overpriced thinking you have time to test the market, these serious buyers won't even look at your property and will probably be in contract on another house by the time you decide to drop your price.Overpriced homes tend to linger on the market and start to go 'stale' in the eyes of the buyers and their agents who will start to think something is wrong with the house.

Price your home right from the beginning to attract the most qualified and serious buyers and sell faster. Keep your eye on the market trends, reevaluate the market activity in 2 weeks if your home has not attracted showings. National Real Estate statistics says 2 weeks on the market with no showings, or 10 showings without any offers you need to adjust your price.

I sell homes for more money in less time because I know my inventory and real estate market trends in Loudoun County. If you are thinking about selling I would be happy to do a market analysis of your home and consult on improvements that will bring a return on your investment.

I look forward to making you my next satisfied client.

At Your Service

Lisa