A Quick Tip for Selling Your Home in Today’s Market

Ed Pluchar with Real People Realty Podcast

If you plan on selling your home, make sure you do not overprice your property. Buyers can tell if you haven’t made any improvements to the home.

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Today I just wanted to give you a quick tip if you are selling a house in the current market.
In fact, this just happened today. I was showing a house that sold for about $185,000 just three years ago. The current listing price for this home is $212,000.
I didn’t see the home three years ago but it was pretty clear to me that nothing had been done to the house, which is a bad sign. If you are selling a house, you have to be ready to list the improvements to justify an increased price.
The market and inflation will increase the price in certain circumstances, but this house was in a very steady neighborhood that didn’t see a lot of price appreciation. This seller was looking to make a cool $27,000 after just three years without doing any significant work on the house.
Thanks to sites like Zillow and Trulia, buyers can often tell when a home is overpriced. If they can’t, then their agent certainly can tell them, “Don’t pay $212,000 for this house. If someone else wants to, let them, because that is too much money.”

You can shoot for the moon, but you won’t get it.

I like to visit the neighbors when I look at listings, so I went to the neighbor and asked her, “What do you think of this price?” She gave me a look that clearly said, “That is not the right price.” Her house was meticulously taken care of and beautiful.
If it’s clear to the neighbors and strangers seeing your home for the first time that nothing’s been done to the house, then you need to price it appropriately. You can shoot for the moon, but you’re not going to get it.
You need to be realistic about the price of your home. Understand that today’s consumer is very intelligent and well-informed on price these days. Price your home accordingly. If that home had started at $205,000, I bet it would have sold before I had the chance to show it today.
If you have any questions about selling your home or what your home is worth in today’s market, just give me a call or send me an email. I would be happy to help you!