As a Realtor in this crazy market, I’ve seen people get lucky when buying or selling their home. But what I see more is how proven tactics work. But this is not an article that will tell you the ten different things you need to do to get your home ready to become someone else’s next home. Instead, I’m sharing the single thing that if you overlook it, you should get very comfortable because you’ll probably be living in your current place for awhile longer.
Last week, I was showing condos in Naples–beachfront with postcard views of the Gulf. The reason we all move to this area, basically. My clients had finally settled upon the building that they liked, and one unit in particular on a high floor. Beautiful sunsets? Check. Totally renovated? Yep. They were so excited, but, like most buyers nowadays, a bit gun-shy, sitting and waiting. And then it happened. My buyers put in an offer and we got down to putting everyone’s John Hancocks on the contract. But what happened? Why did my buyers go from being on the sidelines to being in the game?
The answer is price. This is the Number-One- Most- Important- Do- Not- Overlook- It- Strategy that will either make you happy to have sold your home or upset because you still own it. The reason my buyers went to contract on that condo is because on the same day they were looking at it, a new unit came on the market that was similar in price, but on the 1st floor of the building and had no view. And needed to be gutted. This was just what my buyers needed; to see that the value was there and an overpriced listing did just that for us! Sure, you can make your landscaping lovelier, buff up the exterior paint job, maybe even stage some furniture. These are excellent strategies. But without a competitive price they are ineffective.
So please don’t make that mistake. If you are trying to sell, forget about everything else for a moment and make your number one priority the price. If you price it too high, four months from now you’ll lower the price and it will still be too high for the new comparable properties and yours will continue to sit and devalue. Price it right to start and you’ll shock the market–and draw buyers eager to buy your home.