By Jackie Beardsley
The SECRET to getting the most money for your home
is that being fully aware of your competition, absorption rate and seeing where the market is heading is the single most important information you will need.
Your agent will be able to show this to you and a really good agent will include you in the process by setting you up with an MLS account. This way you can watch your market area and be on TOP of every new listing, pending sale, etc. that is taking place in your immediate area.
It's the immediate area that you are to be concerned with. IF you live in a sub-division, stay focussed only on that sub-division.
Curb appeal and staging along with prepping your home for sale with necessary updates are going to help you attract lots of potential buyers. THAT is the most important part for aesthetics but properly pricing your home is the key factor to net more.
Sellers often times wish to start higher with the expectation that they can lower their price. It can't HURT to start higher in a sellers market perhaps but even then you can lose out in a hurry.
Buyers are more educated than ever before. They have done their homework online and are already comparing your home to others. If your home has been marketed with beautiful photos and the right ones were chosen for the MLS (VERY important) you will have interest but IF you are priced higher than others they will be viewed first. Remember that buyers make up their mind upon entering a home for the first time. Sometimes as early as when they arrive on the front porch!
When you have already come onto the MLS with the price you have chosen, you may have 1, 2 or 3 new listings that came on right after and priced their home lower to be more competitive. Now YOU are in a situation where your home will seem too high. Will they negotiate price? Yes they will but you may and often times will lose them because they will view the homes which they feel are a better 'deal' so to speak before viewing yours. Now you will be doing price reductions to compete with THEM and therefore you are 'following' the market. In order to get the most, the object is to price it properly from the beginning. THIS is what creates more demand. The sooner you get under contract the better chances of netting more. MORE times than not, your first offer is your best.
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