Why We Price It Right The First Time

When selling your home, establishing that all important “list price” has a huge impact on who sees your home and what they might offer.  

Price it too high…

…and everyone who can afford your home at or slightly above its fair market value won’t even see it!  The 92% of home buyers that are shopping online typically have saved searches on websites that will email them when new properties with what they’re looking for hit the market.  Those searches have a “max price” parameter that will filter your property out if it’s listed above the top end of their budget.  

Before you think “well we can always lower the price later” - don't forget that you'll want as many eyes on your property as possible at one time so that you take advantage of supply and demand.

Price it too low…

…and, you run the risk of receiving an offer slightly below what you may have otherwise received had you priced it correctly. The market will typically correct for this mistake automatically in the first-time home buyer price range because there are more buyers (supply and demand).  In the higher home price ranges, however, pricing the home correctly the first time becomes imperative.

Price it just right…

…and you can maximize the number of buyers that see your property who can actually afford it at or above its market value.  Pricing a home is actually pretty straightforward. 

  • A good buyer’s broker is going to look at comparable homes that sold within a 1-mile radius of your home in the last 3-6 months.  They will use this as a guide to help the buyer determine how much to offer.
  • The bank’s appraiser will use a similar approach.

Therefore, we will sit down with you and look over that same information.  No guesswork necessary.  With that price range in hand, we will then determine, together, where in that range to list your home based on your goals.

 

More Information

Contact us today by emailing us at julie@housesofportland.com or give us a call at 503.7017023!