Pricing Your Home for Sale

When you’re selling your home, the price you set is a critical factor in the return you’ll receive. That’s why you may need a professional evaluation from an experienced Real Estate Agent or at a minimum, a Comparative Market Analysis. In additional to reviewing objective sales history, you will need to consider the following items as well.

  • Mississippi Market conditions
  • Condition of your home
  • Repairs or improvements
  • Selling timeframe

In real estate terms, market value is the price at which a particular home, in its current condition, should sell within 30 to 90 days.

If the price of your home is too high, this could create several negative effects:

  • Limits buyers. Potential buyers may not view your home because it appears to be out of their buying/price range.
  • Limits showings. Buyers Agents may be more reluctant to show your home to their buyer.
  • Used as leverage. Other Real Estate Agents may use this home to drive the sale of other homes that are better-priced.
  • Extended stay on the market. When a home is on the market too long, it may be perceived as defective. Buyers may wonder, “what’s wrong,” or “why hasn’t this sold?”
  • Lower price. An overpriced home, still on the market beyond the average selling time, could lead to a lower selling price. To sell it, you will have to reduce the price – sometimes several times. In the end, you’ll probably get less than if it had been properly priced in the first place.
  • Wasted time and energy.

Real Estate Agents have known it for years – well-kept homes that are properly priced in the beginning always get you the fastest sale for the best price!