Three Strategies to Price Your Home in Today’s Market with Randy Roesch
There’s three strategies you can employ in today’s market when listing your property, above market value, at market value, and slightly below market value. Which strategy is going to give you the best results given today’s market?
Randy Roesch with the Roesch Luxury Group explains the three different strategies you can put in place when listing your property.
- Pricing your home above market value. So this strategy may have worked in the market a couple years back when there wasn’t much inventory and buyers were desperate to find a property. Today, in a shifting market, this strategy’s not going to work as well for you. If you overprice your property in today’s market, you’re probably going to hear crickets and not going to get the exposure that you’re looking for when marketing your home. Currently this strategy is used for seller's who don't mind letting their home sit on the market and waiting for that 1 in a million buyer.
- Secondly, you can price your property right at market value. Now we talked about in a previous video about pricing your home, and comparing it with other properties on the market. This is listing your home right at where it should be given the other properties that have sold and the facts that we know about what’s going on in the market. Now this strategy’s a great one. This one’s going to get you exposure. It’s probably going to get you a couple offers on the property which is what you’re looking for. But maybe not enough offers to give you the leverage that you’re looking for to negotiate the highest price and terms possible for you.
- The last strategy that I wanted to introduce to you is pricing your property slightly below what the other comps have sold for recently. Now this strategy is probably the best one that you can employ when listing your home. The reason for this is it’s going to get you the most exposure possible. People are going to come out and see your property and with more exposure, you’re going to get more offers. And with more offers, you’re in the driver seat for the transaction and you can leverage your ability to negotiate the best price and best terms for you home.
If you have more questions about how to price your home or the strategies that you should employ when marketing your home, or if you’re thinking about selling, call Randy Roesch at (775) 544-5445