Princeton Town Topics – Let’s Talk Real Estate – May 31, 2017
SELLERS: KNOW THESE 3 PRICING TRAPS
Selling a home may not be rocket science, but there are a few obstacles that can trip up even a seasoned seller. Here are three to watch out for:
- Basing your price on your own emotional connections to your home. Yes, your home holds lots of precious memories for you and your family members; but sentimental value doesn’t translate into dollars and cents. It can be hard to see your home through a stranger’s eyes, especially if you’ve lived in it for many years. Rely on your agent’s objectivity and market savvy to come up with a fair price that reflects the true value to buyers.
- Expecting to get back 100% of the value of past renovations when you sell. Renovations certainly can increase the value of your home, but maybe most importantly, they can make it more marketable so it sells more quickly. Some renovations offer a better return-on-investment than others, but they rarely return 100% of their costs. Your agent can help you decide on the best renovations for your market.
- Relying on online pricing estimates like Zestimates. Plenty of news reports have revealed just how wildly inaccurate online home-pricing sites can be. Instead, count on your agent’s years of experience to come up with a price that suits your buyers, your neighborhood and other factors.
Leaning on your agent for guidance throughout the selling process relieves a lot of the risks while helping you feel more confident about the final deal.
