Guidelines for Pricing Your Home

Thinking of selling your Coastal New Hampshire or Maine home? Then it's time you learned the importance of pricing—and how to price your home RIGHT!

If you want to price your home to sell while protecting your hard-earned equity, then here are some things to keep in mind:

Things That DO NOT Determine Your Home Value

  • 1. What you originally PAID for your home

  • 2. How much you NEED from your home

  • 3. What you WANT from your home

  • 4. What another REALTOR says it's worth

  • 5. What an APPRAISER says it's worth

What's the #1 Rule of Home Selling?

The BUYER Always Determines The VALUE!

No matter what you want, think, or what anyone else says, the value of your home is determined by why a buyer is willing to pay for it in today's market. This is most typically determined by comparing your home to others currently on the market or that have recently sold in your location.

Buyers are Value-Conscious

Buyers today look at homes in a wide range of towns and cities, so when they look at your home, their extensive market savvy quickly tells them whether your home is priced correctly.

More buyers are also using Buyers Agents to help them quickly determine which homes are the best value.

Homes Have a Short Shelf-Life

Your home will generate the most interest its first few weeks on the market. Buyers will compare it to similar homes using the "big four" indicators of value: location, square footage, style, and age.

If you overprice your home, buyers will quickly realize that competing homes are a better value and lose interest in your home. Buyers do not generally have a positive opinion of homes that stay on the market too long.

Pricing "Right" Creates Excitement

When buyers see a home that's priced right, i.e. the price tag matches the value, they're likely to call up their agent and schedule a showing right away. Pricing right creates buyer excitement, attracts more buyer appintments, and almost always leads to a quicker sale.

Get enough buyer excitement and you may end up with a bidding war, which can often mean an even HIGHER price tag as multiple buyers compete for your home!

Value is ALWAYS Changing!

Remember, price is a moving target. That is to say, the market is always changing based on the number of buyers and sellers currently active. You can select the right price today, go to bed tonight, and wake up to a property that is now ovrpriced based on new listings or other market fluctuations. Being ready to adjust is key to finding success in real estate. Staying ahead of the changing market and strategically positioning your price against the competition is the only way to win at the Price is Right game!

Right Agent = Right Price

A good real estate agent will always be watching the market closely and advising you of changes to the market that may require some adjustments on your part. That's why finding the RIGHT agent is key to finding the RIGHT price for your home... and knowing that your home is in good hands.

If you're thinking of selling a home in Coastal New Hampshire or Maine, then it's time to contact Jim & Ann to find out what we can do for you, from pricing to staging to selling.