We probably all have skewed ideas of the worth of our homes. Either we think it’s far more marvelous than it really is, or we’re so tired of it that we think it’s a horrendous cross to bear. Add to that your hopes and dreams of what to do with your money once you sell, and pricing your own home is a complete danger zone. This is one area where the aid of a real estate agent really comes in handy. DANGER ZONE #1: PRICING BELOW VALUE It’s possible that a home priced too low could eventually aid a seller to start a bidding war so that the price is driven above what the sellers wanted to make in the first place. However, conditions must be ripe for this kind of arrangement to work. Well-laid-out and professional plans are also crucial to this maneuver’s success. On the other hand, when a home is priced far below market value, potential buyers are left feeling as though there’s some hidden, ominous fault with the property—even if there isn’t. That kind of mentality can leave a home hung out to dry, which wastes valuable time. The longer a property stays on the market, the less money sellers are likely to make. DANGER ZONE #2: PRICING ABOVE VALUE Pricing too high, obviously, leaves your home sitting stagnant while all your neighbors’ homes are snatched off the market. Why would anyone purchase your home if one very similar is priced thousands lower nearby? Common sense says that your home isn’t going anywhere anytime soon. Now you’re playing the waiting game while your peak selling time is slowly dwindling away. These dangers are the reasons that getting an accurate price on your home from the get-go is imperative to your selling for top dollar. There are several ways you can discover this elusive figure, but it isn’t necessarily a simple or cost-free endeavor.
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