26 Sep 2019

Pricing Your Home Correctly Has MLS Advantages (Get It Sold!)

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Pricing Your Home Correctly Has MLS Advantages (Get It Sold!)

The biggest question most sellers have is, how much is my home worth in Sarnia? Price is such an important part of selling a house. It is what potential buyers look for on MLS Sarnia and will dictate the course of the sale moving forward. Price the house too low and sellers will have some regret after having left money on the table. Overprice it, however, and the house could sit on the market for a long time and you may end up losing money.

So, it’s important to get the price right at the start and not have to hope negotiations get you the price you want later. And when you finally put your home on MLS Sarnia, it’s going to attract more buyers if the price is right. Let’s look at some advantages to pricing your home correctly in this hot Sarnia real estate market.

Quicker Sale on MLS

The most obvious advantage is a quicker sale when you list on MLS Sarnia. Your Sarnia Realtor will tell you, a properly priced houses will always sell faster. If it’s based on the current conditions of the Sarnia real estate market, it will be more enticing for homebuyers. And if you have done upgrades and have it priced accordingly, you won’t have to be more of a salesman to get the price you want.

A faster sale means more profit, as you won’t have to price drop and a quick sale means it has caught someone’s eye early and they are more likely to make an offer at your price. Only buyers can really tell you what the actual price of your home is after they make the offer. However, if you work with your Sarnia Realtor and come up with a fair and accurate price, you’re more likely to get the price you want faster.

Get Other Sarnia Realtor Interest

When you are selling your home, you are not just trying to appeal to buyers. You are trying to appeal to Sarnia real estate agents as well. When the price is right, homes will appeal to the buyer’s Sarnia Realtor as well. And they are more likely to show their clients a house priced appropriately than one they know is going to be a struggle to get a deal done. And obviously, the more Realtors interested, the more buyers that are going to come through your home to possibly make an offer.

Remember, every Sarnia Realtor is going to do a proper analysis of your price before their clients offer. They are going to compare your price to other houses sold, currently active on MLS and other houses that didn’t sell to help their buyer come up with a price to put in their offer. Avoid getting what you feel is a lowball offer by first, making sure your price isn’t out of the ballpark.

Greater Likelihood of Getting Asking Price

When a buyer sees your price on MLS, they know there is room to negotiate. Now, in this Sarnia real estate market with higher than normal prices, that room is small. But that is only if you have priced your home properly. If you haven’t, you could find your home sitting on the market for a long period of time and that will have buyers offering lower than you want. And if they offer lower, you have to make up the gap in negotiations.

But if your house is priced right, buyers will realize they have little room to negotiate. And in this market, that could even mean getting an offer higher than your asking price. Coming in too low will get interest from people, but then you are putting the price in the buyer’s hands and not your own. So, price your house properly, and take control of the negotiations from the beginning. Close the gap between your asking price and the offer price and avoid long negotiation periods.

Get the Correct Buyer Pool

A trick when listing your price on MLS is to know how MLS actually works. When searching and filtering down on price, MLS filters in $25,000 increments. This might not seem like it means anything, except in the type of buyer pool you are looking to go after. For example, the under $300,000 buyer crowd is different than those over $300,000. A buyer who is trying to stay under $300,000 may not filter MLS to look at houses that are under $325,000 because they think it may be too high. That includes houses that are listed at $301,000 to $305,000, which they could negotiate to get under the $300,000 price-point they want.

Think of it like when buying groceries. How often do you see something with a $0.99 price tag? It happens a lot, even on cheaper items. $2.99 looks cheaper than $3.00, even though it’s the same price. So, if you’re going to list your house just over $300,000 in our example here, perhaps consider listing at $299,999 to work with MLS filters. You can always make up the difference in negotiations.

Greater Profit When Listing on MLS

As we have pointed out, a home that sells faster, makes more profit for the seller. And it all starts with price and making the price look appealing. Before a buyer even walks into your house, they are going to look at the price and see if it appeals to them. Then they will compare it to other properties at the same value. So, if you want to get the most profit, which means selling it faster, get the right price attached. Work with your Sarnia Realtor and compare other sold properties and listed properties on MLS Sarnia to your own. Make sure you find that sweet spot of getting it low enough to entice buyers, but high enough to maximize your profit.

Just because you list a house at a high price doesn’t mean you will actually get that price. If you are start off right away with a high price, you will have to negotiate. And negotiations are time. Every day your house sits on the market is money being lost. So, if you are spending days trying to negotiate on a price, it’s further proof you may have overpriced your house.

Your Sarnia Realtor wants you to make the most profit possible. So, talk to them about finding you comparable listings and put yourself in the best position with a properly priced house.