If your lifestyle has recently changed and you're ready to make a change, taking advantage of today's sellers' market could be the perfect solution for your summer plans. With homes continuing to receive multiple offers, now could be the time to get the contract you want on your house if you're ready to sell.

And here's the thing: you need an expert on your side to ensure you make all of the right moves when it comes to pricing your home. Even in this competitive market, you can't really put any price tag on your home and expect to get the best deal. Setting the right asking price is an important piece of the puzzle because it will help buyers notice (and get excited about) your home from the first time they view the listing. That's where a real estate agent comes in.

Why Pricing Your House Right Is Important

The price you set for your home sends a message to potential buyers. If you price it too low, you may raise questions about the condition of your home or lead buyers to believe something is wrong with the property. Not to mention that if you undervalue your home, you may be leaving money on the table, reducing your future buying power.

On the other hand, if you price it too high, you risk discouraging buyers. When this happens, you may need to lower your asking price to re-ignite interest in your home after it has been on the market for a while. However, some buyers may interpret a price drop as a red flag and wonder why the price was reduced and what this means about the home.

In other words, consider your home's price as a target. Your goal is to aim for the center – not too high, not too low, but exactly at market value. Pricing your home fairly based on market conditions increases the likelihood that you'll have more buyers interested in buying it. This increases the likelihood that you will receive multiple offers. And if there is a bidding war, you will almost certainly get a higher final sale price. Furthermore, when homes are priced correctly, they tend to sell quickly.

The chart below illustrates the potential drawbacks of over or underpricing your home, as well as the benefits of pricing it at market value:

Lean on a Professional’s Expertise

There are several factors to consider when pricing your home, and the key is to balance them. That is why, when you are ready to relocate, you should consult with an expert real estate advisor. A local real estate advisor is knowledgeable in the following areas:

• The value of homes in your neighborhood

• The current demand for houses in today’s market

• The condition of your house and how it affects the value

Professional Realtors from Lydia Gable Realty Group will help you balance these factors to ensure that the price of your home makes the best first impression while also providing the best return on your investment.

Bottom Line

If you’re thinking about selling, pricing your house appropriately is key. Let’s connect to make sure your house is priced right for the local market, for your home’s condition, and to stand out from the competition.