If you’re thinking about selling your house, one of the first things you’ll likely wonder about is selling price. How much should you sell the house for? But before you decide on a price, the one concept you need to understand first, is whether it even matters what your asking price is when selling a house. In this blog post, we’ll answer this question to help equip you when you sell your house…
Homes rarely sell for list price, so that begs the question, does it even matter what price a home is listed for?
When you want to sell your house, you set an asking price. Of course, most people know that this is rarely the selling price – so why set an asking price at all? Just how important is the asking price when selling a house?
An asking price is actually a very useful “tool” that does 3 things for you.
First, It Attracts Certain Buyers And It Repels Certain Buyers
There are buyers at every price point in the spectrum. A higher price will catch the attention of higher end buyers (while it repels low-end buyers) and a lower price will attract the attention of lower-price buyers (while it repels high-end buyers).
There’s nothing wrong with this – after all, you don’t want to waste your time trying to sell your house to someone who has no intention of buying. So the right asking price can be used to help the right buyers see your house as a desirable purchase.
Second, It Reveals Information To Buyers
The price of your house, in comparison to similar houses, will reveal information to potential buyers. For example, if you live in a neighborhood where the average sale price is $400,000, and you’re asking $350,000, what does that say to buyers? It says that your house may need some work or you’re in a hurry to sell. And what if you live in that same neighborhood but ask $440,000? It might say that your house is superior to the other houses because of how you’ve decorated it.
Third, It Is The Starting Point Of Negotiations
It’s very rare for a house to sell at exactly the asking price. All home sales are negotiations between the sellers and the buyers (and the real estate agents that might represent them). The asking price simply puts a piece of information out there for negotiations to begin from. As a seller, you might put out the price and then work on getting a higher price while your sellers start with that price but work on getting a lower price.
So, just how important is the asking price when selling a property?
Pricing a home to sell at the right price is very important to help a house sell quickly. Click the link if you’d like to read more about pricing your home correctly.
But listing with an agent or selling FSBO is not the only way to sell! If you’re not sure what your asking price should be, or if you’d like to skip the typical home sales process altogether, you can get a cash offer from us! Our goal is to make the sale of your home as simple and hassle-free as possible.
We pride ourselves on delivering a simple, quick and hassle-free sale for homeowners. Our reviews from satisfied sellers show it! Please go to our Facebook page and see for yourself.
Please take the time to read some of our reviews from satisfied sellers. We feel that when people take the time to write a review, they must have had a wonderful, 5 star experience!