~ Exemplary Service, Impressive Results
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Richard Powell CA DRE Broker # 01463090
Kirsten Powell CA DRE Broker # 01783549
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HOME  How to price to sell and still make a profit |
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How to price to sell and still make a profit
The asking price you set for your home significantly affects
whether you will profit in the sale, how much you will profit and how
long your home will sit on the market. Your real estate agent's
knowledge of the overall market and what's selling - or not selling -
will be invaluable in helping you determine the price. The objective is
to find a price that the market will bear but won't leave money on the
table.
Here are some points to consider:
Time. Time is not on your side when it comes to real estate.
Although many factors influence the outcome, perhaps time is the biggest
determinant in whether or not you see a profit and how much you profit.
Studies show that the longer a house stays on the market, the less
likely it is to sell for the original asking price. Therefore, if your
goal is to make money, think about a price that will encourage buyer
activity (read: fair market value).
Value vs. Cost. Pricing your home to sell in a timely fashion
requires some objectivity. It's important that you not confuse value
with cost - in other words, how much you value your home versus what
buyers are willing to pay for it. Don't place too much emphasis on home
improvements when calculating your price, because buyers may not share
your taste. For instance, not everyone wants hardwood floors or granite
countertops.
Keep it simple. Because time is of the essence, make it easy for
the buyers. Remain flexible on when your agent can schedule showings.
Also, avoid putting contingencies on the sale. Though a desirable
move-in date makes for a smoother transition between homes, it could
cause you to lose the sale altogether.
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Powell Fine Homes
2555 Townsgate Road, Suite 200 • Westlake Village, CA 91361
Richard 805-404-1167 • Kirsten 818-268-3236
richard@powellfinehomes.com • kirsten@powellfinehomes.com
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