The ways to list your home are as individual as the home itself.
There’s no one-size-fits-all for everyone, so it’s important that you work with your real estate advisor to choose a home pricing strategy that’s right for you and your financial goals.
No matter how you approach selling your home, your strategies basically break down into three main categories. Choose your approach carefully – the method you select can have a great affect on your ultimate price, the amount of time your home stays on the market, and how smoothly negotiations go once you’ve got a potential buyer. Let’s take a look at each of the strategies now.
“As-is home pricing”
With this strategy, the seller prices the home based on its current condition. You’ll let it be known that the home is to be taken in its current physical state – with no repairs to be made. This is also known as the “what you see is what you get” approach.
Pros:
- Saves sellers time and hassle
- Ideal for homes that are underwater
- No upfront costs for repairs
Cons:
- Buyers may still negotiate repairs
- Generally lower pricing
- “As-is” carries a stigma, which may deter some buyers
“Quick Sale home pricing”
When it comes to home pricing, this approach is designed to “move” product – that is, get your house sold in a hurry. This typically entails aggressive pricing with marketing efforts that are very bullish, too. And while most sellers would prefer a more expedient sale rather than a long, drawn-out process, the “quick sale” home approach means putting speed above all other factors.
Pros:
- Faster sale
- Great for disposition of certain properties, such as inheritances
- Ideal for lifestyle changes that require a fast move
Cons:
- Lower pricing
- Poor negotiating position
- Buyer distrust of “fire sale” atmosphere
“Traditional home pricing”
Traditional home pricing is both an art and a science. It involves extensive market research, paired with intelligent marketing (and staging) of your home. With this approach, your real estate advisor will define the maximum valuation of your property – taking into account current buyer trends and the pricing of similar homes, among other factors – while recommending changes you can make that will help you achieve that highest price.
Pros:
- • Typically a sale at a higher price
- Greater emotional satisfaction for sellers
- Achievement of financial goals
Cons:
- Could require upgrades and repairs
- Typically takes longer to close then a “quick sale”, or “as is home pricing”
Always remember, there’s no single strategy that’s right for everyone in every situation. Be sure to talk to your real estate advisor and choose a pricing strategy that’s congruent with your goals and financial objectives.
Annette Daskalos,