Sellers: If you have to sell, the most important factor is pricing your property fairly and realistically. Realize this key issue before you enter the market not 6 months later. Forget about your friend that sold in 2009 or 2010 for more than what you are asking today (2011)!! Look at your competition as well as visiting your neighbors’ open houses and see what buyers are looking at. Buyer’s first impressions are very important, so think about giving your home a make-over. Offer incentives. Besides pricing your property a bit lower than your competition, think about contributing towards the buyers closing costs, paying buyer’s discount points for a lower mortgage rate, moving allowances and/or flexibility on move-in date.
Perhaps the greatest influence in getting your home sold is entering the market with a home that’s priced correctly. Over-priced homes won’t get favorable attention; they lose out to the ones that are reasonably priced. All sellers are looking for the highest price for their home. That’s why some sellers want to start at the highest point, maybe even asking a higher price than what they really believe they can get — the continued readjustment of price can be a humbling ride down to finding the reasonable price to sell the home. Still dropping the price sounds like an okay strategy, some sellers think. Here’s the problem, especially in today’s current market conditions where numerous sellers are competing for fewer buyers — adjusting price down may come too late and cost the seller less in gain than if the home were priced correctly from the start.