I am Ruthie Gallardo-Owens, the founder of Oklahoma Real Estate Experts. I want to bring you two pricing strategies for your home when you are thinking about selling it.
Hey, there! I'm Ruthie Gallardo Owens, Ruthie the Realtor. Today, I wanted to bring you two pricing strategies for your home when you are thinking about selling it.
These are just two of many strategies that we have used that actually work. I want to make sure you consider these and discuss these with your agent whenever it's time for you to sell your home.
Strategy 1: Price at the top of the market
The first strategy is to price your property at the very, very top of the market. When we are doing a quick home valuation for you as realtors, there's about six different factors that we take into consideration, but among those the more popularly known are the location of the home, condition of the home, and size of the home. The deal is that there's a lot more to look at — in fact, about 26 different factors taken by an appraiser.
With all of that in mind, if you go at the very top, your home may not end up appraising. So let’s say you list your property for the dream amount and you get under contract. Someone does offer you that amount, but you end up not getting that. You end up appraising lower and you lower the price. You know what? That's still a great strategy because you didn't leave anything on the table. However, you may have eliminated some of the buyers that could have bought it or could have competed for it at that lower price range that you would've been without going all the way to the top. So let's think about that.
Strategy 2: Price a little lower than anticipated sell price
So our second strategy is actually pricing a little bit under what we think it's going to sell for. Here, rather than going all the way to the top, we stay just a little bit under.
What this is going to do is rather than putting you in the situation where you may have to be responsible for lowering the price to the appraised value, it sets you up in a different kind of position, in a position where your home is more attractive and it's going to attract a little bit more competition. That competition may actually raise the price. They may offer you the amount that you wanted initially.
But in this scenario, you are looking at your agent having the ability to secure some of the money, some of the funds that are being offered above asking price.
So if your home doesn't appraise, the burden is not always on you to lower it. You may already have negotiated through your agent some concessions to make sure that you're still going to receive all or some of the money that they're offering above asking price.
Conclusion
These are just some strategies for you to discuss with your agent once you have them over and get your home ready to list. It's not a fool-proof or science-based method, but it is important for you to know that you do have options on how you list your property and how much you price it for.
If you have any questions or if you ever need any help goal setting or anything like that, feel free to give me a call or just follow our page: https://oklahomarealestateexperts.com/ .
You can watch the video by clicking the link (https://youtu.be/B5zWTbDtrAo)
