March 6th, 2014 12:39 PM by
How to Price to SELL
Location may have the most effect on value but PRICE is the most important factor when selling a home. Anything may sell eventually….. But how long it takes depends on the price.
Most sellers think that it is necessary to “leave a little wiggle room” in the price. They think this because they think that all buyers will make ridiculously low offers…no matter what the asking price. WRONG!!
Charleston buyers pay fair market value …in other words they will pay what your home is worth. Your job is to find out what it is worth and price it at or near that value.
The right way to price your property is to have a professional REALTOR® prepare a CMA (Comparative Market Analysis) on your property. A CMA involves finding recent sales of similar properties, adjusting for any differences, to arrive at a current market value of your property. Once you have this value you should have your REALTOR® set the asking price no more than 3% to 5% higher than that current market value.
If you do this, your Joint Base Charleston property will sell quickly for a price equal to exactly what it is worth, or higher! Buyers as a general rule DO NOT make “low-ball” offers, there are some rare occasions when that happens but the vast majority of initial offers are 5% or less below asking price.
Today’s Charleston buyers are educated on the market and generally working with a REALTOR® who is an expert on current market values. Today’s buyers know when a property is overpriced and often will not even bother to go see an overpriced home, as they assume that the seller is unreasonable and/or is not truly interested in selling the property.
If you start high and then slowly drop the price over a course of several months and/or years, keep in mind that the longer your home sits on the market, the lower your chances of selling at top dollar. When you do get an interested buyer, they will most certainly ask their REALTOR® “what’s wrong with this house”, when they realize how long it has been on the market. Even once your home is priced where it should be, the stigma it carries because of the lengthy time on the market will likely result in it selling for less than it is really worth.
Bottom line – Homes that are priced well are selling FAST in the current Charleston market. Buyers are out and ready to buy, and they will pay you fair market value for your home. So price your home correctly from the start, then sit back and wait for the offers to come in!
Military Homes Charleston We specialize in helping military families enjoy a smooth PCS in and out of Joint Base Charleston, South Carolina. Buying and selling your home is one of the biggest events of your life. As your trusted Charleston Real Estate Professional, we are 100% committed to helping you the best way we can when you buy or sell your home. We have a passion for helping people, and we love what we do – call 843-410-8014 or email today!