You’ve decided to sell your Smith Mountain Lake home, but how do you sell it for the highest price possible? If you watch reality real estate shows, they’ll tell you to “list high; you can always come down.” If there’s worse advice for a seller, I don’t know what it is. So how do you sell your Smith Mountain Lake home for the highest price? Easy.
To sell your Smith Mountain Lake home for the highest price, you have to know what is happening in the real estate market. Access to housing data is the key to understanding the real estate market in any area. Simply looking online will not provide you with enough information to decide how to price your home to sell.
Is the market going up or down? What have other homes like yours sold for? What condition were they in when they sold? Were there concessions the seller had to give the buyer to close the sale?
Without knowing the answers to these questions, making an informed decision is difficult and could cost you thousands.
All of the data you’ll ever need about selling your Smith Mountain Lake home for the highest price is available by an experienced and local Realtor.
When I speak to sellers, the conversation about the initial listing price is front and center. Most sellers think that the listing price is what they are asking for their home when in reality, it’s just a starting point.
Generally, homes, especially in our current market, do not sell for the price the seller chooses. Most homes sell for either higher or lower than the initial listing price. While this may seem strange to those who don’t sell homes for a living, it’s very common. That is why it’s called the initial listing price and not the sales price.
What Is a Value Perceived Initial Listing Price?
Pricing a home to sell with the idea that you can always come down if it doesn’t sell is flawed thinking. You don’t want to give room to go down in price; you want the room to go up.
When a home stays on the market too long, the price almost always goes down. The longer it stays on the market, the further down the sales price goes. That will not help the seller make the most money from the sale, won’t draw multiple offers, and will leave you stuck working with a buyer who isn’t highly qualified. Ick!
My recommendation to get multiple offers from highly qualified buyers is to price your home slightly below where other homes like it are currently priced and sold.
The sales prices of recently sold listings, the condition of your home in relation to the sold listings, and the real estate market direction are the essential factors in determining the initial listing price. Get these three factors right, and you’ll get the most money when you sell your Smith Mountain Lake home.
Are you considering selling your Smith Mountain Lake home this spring? If so, please don’t hesitate to contact me. I’ve been selling homes in the region for years and can help you get it done right. Please click here for my contact page.
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