How to Get the Price You Want

Bryan College Station, TX Home Sellers: 
How to Get the Price You Want (and Need)

When you decide to sell your home in Bryan or College Station, setting your asking price is one of the most important decisions you will ever make. Depending on how a buyer finds your home, price is often the first thing he or she sees, and many homes are discarded by prospective buyers as not being in the appropriate price range before these homes are given a chance to be shown.

Your asking price is often your home's "first impression" to the Bryan College Station market, and if you want to realize the most money you can from your home's sale, it is imperative that you make a good first impression to those buying in the Bryan College Station market.

Because this is not as easy as it sounds, your pricing strategy should not be taken lightly. Pricing too high can be as costly to a home seller as pricing too low. Taking a look at what homes in your neighborhood have sold for is only a small part of the process, and this on it's own is not nearly enough to help you make the best decision.

This report will help you understand some important factors about pricing strategy to help you not only sell your Bryan College Station, TX home, but sell it for the price you want.

"Depending on how a buyer is made aware of your home, price is often the first thing he or she sees. As a result many homes may not be shown because they are discarded by prospective buyers for not being in the appropriate price range."

 

Pricing Strategy Starts with Good Information

Before you can begin to know what your home is worth, you should do some research, bearing in mind the following:

An analysis of what homes have recently sold for in your Bryan or College Station neighborhood is NOT enough to help you properly price your home.

A quick scan up and down the street at the prices of homes that have recently sold will give you a starting point. However, this is not nearly enough for you to base your entire pricing strategy on. It is important for you to understand how buyers look for a home.

Think about how you conducted your house hunting search to find the home you are now thinking of selling. You most likely did not confine your search to a single neighborhood, but perhaps different neighborhoods or towns in order to find a home that best matched your needs and desires.

The prospective buyers who will be viewing your home, will conduct their searches in a similar manner. That means they will be comparing your home to, for example, brand new development homes, 10-20 year old homes, etc. They will also consider locations such as homes in established neighborhoods, the middle of town, the suburbs of Bryan College Station or country properties. Each home will have a different look and feel and it's quite possible that a prospective buyer might consider all of these variables in the search for a home.

You can see, when you're selling your home, you're not just competing with the home around the corner, but also with all homes in other areas which have the same basic characteristics (i.e. number of rooms, overall living space, etc).

 

How Your Asking Price Affects Your Selling Price

There are 4 common strategies that most Bryan College Station home sellers use to price their homes. It is unwise to assume that a higher asking price will net you a higher selling price. In fact, often this equation works in reverse if you're not paying attention to what the market is telling you. Did you know that about half of all homes in bryan College Station do NOT sell their first time on the market? Bear this research in mind when you set your asking price.

  1. Clearly Overpriced:

Every seller in Bryan or College Station wants to realize the most amount of money they can for their home, and real estate agents know this. If more than one agent is competing for your listing, an easy way to win the battle is to overinflate the value of your home. This is done far too often, with many homes that are priced 10-20% over their true market value.This is not in your best interest, because in most cases the market won't be fooled. As a result, your home could languish on the market for months, leaving you with a couple of important drawbacks:

  • your home is likely to be labeled as a "troubled" house by other agents, leading to a lower than fair market price when an offer is finally made
  • you have been greatly inconvenienced with having to constantly have your home in "showing" condition...for nothing. These homes often expire off the market, forcing you to go through the listing process all over again.
  1. Somewhat Overpriced:

About 3/4 of the homes in Bryan College Station are 5-10% overpriced. These homes will also sit on the market longer than you want. There is usually one of two factors at play here: either you believe in your heart that your home is really worth this much despite what the market has indicated (after all, there's a lot of emotion caught up in this issue), OR you've left some room for negotiating. Either way, this strategy will cost you both in terms of time on the market and ultimate price received.

  1. Priced Correctly at Market Value

Some sellers understand that real estate is part of the capitalistic system of supply and demand and will carefully and realistically price their homes based on a thorough analysis of other homes on the market. These appropriately priced homes usually sell within a reasonable time-frame and a large percentage will sell at very close to the asking price.

  1. Priced Below the Fair Market Value

Some sellers are motivated by a quick sale. These homes attract multiple offers and sell fast (usually in a few days) at, or above, the asking price. Be cautious that the agent suggesting this method is doing so with your best interest in mind.


Our 7-Step Pricing Strategy

How do we set the most appropriate price for your Bryan or College Station home?  We do this by first conducting a needs analysis to ensure your needs are at the heart of our pricing strategy.  That is the first and most critical step of our 7-step pricing strategy.

After we look through the research, we make an informed and intelligent decision TOGETHER to decide on the most appropriate price entry point to satsfy your needs.  It's been our experience that our 7-Step Pricing Strategy, along with our 7-Step Marketing Plan ALWAYS leads to a sale!

Please contact our Team at (979) 846-1995 to discuss a pricing strategy to sell your Bryan or College Station home.


 

TowerPoint Team
College Station, TX 77845
979-846-1995
Contact Us

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TowerPoint Team at RE/MAX Select | 979-846-1995 | Contact Us
750 William D Fitch PKWY Unit 210 - College Station, TX 77845
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