9 Mistakes When Pricing Your Home for Sale | Advice for Consumers | Texas Association of REALTORS
Picking the wrong asking price for your home can cost you a lot of money. Here are nine don’ts when coming up with your number:
Don’t compare apples to avocados Your neighbor’s home sold recently, but it has a three-car garage, a pool, brand-new appliances, and a cracked foundation. Your house doesn’t have any of these things, so it probably isn’t worth the same amount.
Don’t go way back in time Real estate prices can move up or down quickly. Old sales have little bearing on the amount you should ask for your home today.
Don’t look far away You know that location matters. A recent sale of a property just like yours doesn’t mean much if the home is across town. Sometimes property values can even vary from one block to the next.
Don’t put a price on your memories No buyer will pay more because the house was in your family for three generations.
Don’t start high to allow room for negotiations Most home seekers ignore overpriced homes. They don’t want to deal with unreasonable sellers. Plus, buyers wonder what’s wrong with a house that sits unsold. You may eventually have to lower the price below what would have attracted an offer if you had started out with a reasonable number.
Don’t take the tax man’s word on it Yes, valuations from your county appraisal district are supposed to reflect the real market value of properties. That doesn’t mean they do.
Don’t think that anyone cares about your needs You may want to net a certain amount from the sale of your home to buy another property or pay down debt; unfortunately, that doesn’t matter to buyers.
Don’t add in the exact cost of your upgrades Sure, a remodeled kitchen boosts your home’s value, but how much? It could be more than you paid or less.
Don’t rely on unreliable sources You can find websites that tell you how much your home is worth. Look closely at what they say about their accuracy, though. Depending on the source and the market, as many as half of those estimates are off by at least 20%.
So how should you arrive at an asking price? I think your best bet is to hire a Texas REALTOR®. He or she can show you the data that matter in your market right now and what details of your property affect your asking price. Once you and your REALTOR® sift through all the pertinent information, you can come up with a pricing strategy for a successful sale.
Author:Karla Terrell Phone: 214-551-4450 Dated: April 23rd 2015 Views: 2,087 About Karla: I was born and raised in Dallas, TX and have lived in the Frisco area for the past 10 years. I am ma...
View our latest blog posts in your RSS reader. Click here to access.
JP And Associates REALTORS (JPAR) is one of the top 100 independently owned brokerages in the US. A full service real estate brokerage firm specializing in real estate sales and marketing services with multiple offices across the US and expanding quickly. JPAR is also one of Real Trends top 500 Brokerages in the US for volume and sales and in the top 1% in the US for sales.
Our mission is to provide extraordinary services and exceed our clients’ expectations by always committing to the highest levels of professionalism, ethics and standards in the real estate industry.
JP and Associates REALTORS is a real estate company with a solid structure and foundation built around service and productivity. We believe in providing a fun and rewarding environment for all our REALTORS® and therefore always ready to support our REALTORs® Associates in any market and in any condition. All our REALTORs® will always strive to close more transactions in a given year than the average REALTOR®. Our goal is to recruit and retain the most professional, better trained REALTORs Associates in the local market.
If you are interested in a new career in real estate or already have a real estate license but wish to learn more about our company please contact us directly to set up an interview. We offer our agents a 100% commission plan, company leads, training and mentoring and coaching from TOP Producers with no office, desk fees or monthly marketing fees ever. We are a full service brokerage at a transaction fee cost.
At JP And Associates REALTORS we strive to exceed our Clients AND our Associates expectations.
Live in Ellis County? Looking for something for the kids to do? Check
"My job relocated me from Fort Worth to Frisco and I spent weeks on my own trying to find the perfect rental home. A friend introduced me to Irina Norcross and in a very short time she was able to find the perfect home for my family, negotiated a great lease rate, and worked all the paperwork. She is professional, knowledgeable, and understanding of her client's specific needs. I highly recommend her based on my personal experience. I was so impressed she is now handling the sale of my Fort Worth home and the purchase of a new home in Frisco"