Here are three strategies to help you price your home correctly.

Are you a homeowner who’s starting to think about selling your home? You’re probably wondering, “How should I price my home?” There are three key pricing strategies you want to consider before listing:

1. Price it low. This is a good option for those who need to sell their home quickly. In a seller’s market, pricing low will often create a bidding war among buyers.

2. Price it high. This is a good option for those with luxury homes full of amenities and features. Pricing high can mean you aren’t in a rush to sell the property or simply want to look for the right buyer who will buy at a high price. You do run the risk of buyers being uninterested in your home due to the high price. If you incrementally lower the price over time, you could end up selling below market value.

"Your motivation is key to which pricing strategy is right for you."

3. Market value. Pricing your home right at market value gives you the best chance of selling in less-than-average time and at a good price. This is the strategy that most people pick.

Choosing the wrong one could have a huge impact. If you price your house too low, you will get a flood of interested parties, which can be a positive thing. If you price your house too high, you tend to sit on the market for longer and will probably end up selling for at least 5% below market value. That means more mortgage payments and home costs.

Your motivation is key to which strategy is right for you. If you have any questions about pricing your home right, please give us a call or send us an email. We’re happy to help.