How Team Vivi Prices Your Home For Sale
As one of the top producing real estate teams in Denver, we constantly monitor market trends and the economic indicators which cause home values to fluctuate. While this gives us an overall idea of values across different neighborhoods, your home is unique and should be treated as such.
When you decide to work with Team Vivi on selling your home, we take a personalized, consultative approach to pricing, designed to help you avoid costly mistakes, sell quicker, and get more money.
Here’s how Team Vivi helps price your home:
We will schedule a time to meet at your home and conduct a walkthrough. This will help us get a better idea of your home’s special features, updates, and other qualities that make it attractive to home buyers.
This will also give us a chance to address any initial questions you may have regarding the sale process, and give you more information on how we plan to get your home in front of thousands of potential buyers.
Comparative Market Analysis (CMA)
We will take a look at data from recently sold homes in the neighborhood that are comparable in size, beds/baths, finish level, and other features.
Effective Home Pricing Leads To Success
According to a recent report, about 75% of homebuyers surf the Web to begin their home search. That means homebuyers are well aware of what properties are available on the market and the prices they are selling for. Therefore, now more than ever, pricing is the key to selling your home.
Some sellers think that a higher price will give them some negotiating room. But in fact many buyers don’t even look at a property that is overpriced, much less make an offer on it.
Buyers often inquire about the length of time a property has been on the market. If it has been on the market a long time, they wonder if there is something wrong with it.
The sellers then have to drop the price, taking less than they might have if they had priced it correctly to begin with.
Homes that are well priced attract the buyers in their price range. The buyer’s perception is that the home is a good buy, and then the seller is positioned to receive the listing price or close to it.
We would be happy to provide you with a market evaluation on your home to make sure it is competitively priced in the marketplace so you will receive the best offer.
3 Major Mistakes To Avoid When Pricing Your Home
There are 3 major mistakes many sellers make when pricing their homes:
Major Mistake #1: Pricing too high
In a real estate market favoring sellers (lots of buyers – not enough homes available) it can be tempting to price high and assume “desperate” buyers will pay a premium just to find a home. That is simply not the case.
When a home is overpriced, it sits on the market. The longer it sits, the more buyers will think there must be something wrong with it, and the less interest it will receive. You’ll end up having to lower the price significantly just to increase buyers’ interest, and will end up with less than fair market value.
Major Mistake #2: Pricing too low
This one is pretty self-explanatory. If you price too low, you risk cheating yourself out of tens of thousands of dollars when all is said in done. Sellers typically don’t price low on purpose, they typically price low due to lack of market knowledge and research. We will help with that!
Major Mistake #3: Looking at the wrong data
There are many major third-party websites out there that provide automated online valuations telling you what your home should be worth. The numbers may look attractive, but remember, the values are based on computer algorithms pulled from public records, and do not factor in the countless things that affect a home’s true value.
Computer algorithms see all homes the same, whether they are in dire need of repair, come with top-of-the-line remodeled finishes, are located next to a sewage treatment plant, etc. The point is, these numbers may give you a broad idea, but should NOT be trusted when making one of the biggest financial decisions of your life.