Setting the right price for your Cincinnati / Northern Kentucky home or commercial property is the key to selling quickly and for a nice profit. If the price is too high, your home will just sit there languishing on the market before the inevitable price cuts that gets people thinking… “what’s wrong with that house?” Set your price too low and you’ll miss your payday!
Avoid the following pricing mistakes…
Basing Your Asking Price On How Much You Paid
Homeowners want to make a nice profit and that makes sense but the new buyers down care how much you paid. They only care about if they are getting the best deal possible. There is just too many other homes for them to take a risk on buying a home for too much money.
Thinking Your Renovations Can Be Passed On to the Next Buyer
The return for a remodeling projects is about 62% according to Remodeling magazine. Be careful not to remodel right before you sell unless the house won’t sell without them.
Pricing High To Leave Room to Negotiate Down
The high price could scare away those who don’t want to negotiate. You also could be hurting yourself by not showing up on online searches filtered by price range. Price your property right at the going rate or just below it. Buyers have never been so informed in the history of real estate.
Not Checking Out the Competition
You may think your home is like the others on the street or near it before you actually check them out. An extra bath here or fireplace there can change the game pretty quickly. Don’t base your asking price based only on what your neighbor got for their home.
Getting Emotionally Involved in the Sale
Most sellers think their home is worth more than it really is worth. You can’t get frustrated that buyers don’t value exactly what you like.
Not Reducing Your Price Quick Enough
If your home goes weeks without an offer than most signs point to it being priced to high. It’s best to make a decisive price cut that will attract buyers then to let your listing get old and stale.
Tom has 20+ years experience in helping his clients buy and sell properties. Tom is also great resource for trusted vendors that can help assess and fix a property before buying or selling it.
About Tom Reese
Helping my clients attain their dreams has been the foundation of my success. With my strong attention to customer service, I have earned my clients continued support and referrals. Put my enthusiasm and dedication to work for you!
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Tom may be new to rapping but he’s not new to real estate!