Do you price your home to negotiate?

Often, homeowners who want to sell a home will ask me how they should price their home. More often then not, they want to price their home higher to allow room for negotiation. Price your home to negotiate and you’ll get just; Buyers negotiating, that result in the likelihood of a lower sales price. Price it right, at fair market value or at the lower range of fair market value and you’ll have the greater likelihood of your home’s selling price being driven up higher. Why is this?

Let me explain how my recommended pricing strategy can work for you when your desire is to get top dollar for your home.  When you price your home to negotiate or too high, you will have Buyers wanting to negotiate as they feel your home’s price is not fair when compared to other like homes and you may attract a few Buyers or many will simply ignore your home for sale as they feel it is too high based upon what they see for comparable homes. Now, imagine the alternative, as I suggest to my customers, of pricing your home to sell that will attract Buyers because the price is attractive. The showings of your home will be greater, immediately, within the first week or two, as will the offers from Buyers. Buyers will view your home as a great value knowing that they will probably be competing with other Buyers who also see the value. The increased competition from Buyers will drive up the price, as Buyers realize that they had better bump up their offering price if they want to be the offer that you, as a Seller, select. This is even more true when you’re in a Seller’s market which, we are here in South Florida. The majority of South Florida Real Estate Markets are experiencing a Do you price your home to negotiate?Seller’s market.

So when you’re trying to determine a selling price for your home, you’d better think twice before pricing your home to negotiate.

Need to determine a selling price for your home? Call me now at 954-464-1100 and I’ll complete a market analysis of your home’s neighborhood for setting a winning price.

This article was written by by Lynn Pineda, your Coral Springs Realtor and South Florida REALTOR® with Keller Williams Partners Realty.

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  • […] How much is my home worth? As you can imagine, this is probably one of the first questions that I routinely receive from a homeowner who is thinking about selling a home in Coral Springs or anywhere for that matter. Price points will be considered when setting a price to sell a home in Coral Springs. These price points can tell you where there are a lot of Buyers looking in a particular range and are willing to pay that price thereby, increasing the chance of your home being sold. For example, if your home’s value was near the $400,000 price point and you were to price your home at $399,999 or just below, you’d have a much greater chance of reaching more Buyers compared to pricing your home immediately at $400,000 or just above. Pricing at the right price point can bring on multiple offers driving up the ultimate sale price of your home. Perhaps this can help you to understand that initial list price that makes all the difference in what you will sell your home for.  Thinking you can always reduce it later if your home doesn’t sell, statistically will result in a lower sales price and take longer to sell. I can speak to you further on this point, just call me. Not sure of where you should price your home; If you want to know, please contact me for a complimentary valuation of your home. As I say, again and again: Don’t price your home to negotiate […]

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