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Overpriced Homes - Do they Sell in a Hot Market?

Thursday, April 20, 2017   /   by Jason Huerkamp

Overpriced Homes - Do they Sell in a Hot Market?

Do Overpriced Homes Sell?

When pricing your home, consider these 12 points

  1. Experienced buyers who have been looking for a while will know your home is overpriced and won't even look at it
  2. Unscrupulous agents may use your home as a springboard to sell another home with similar accommodation thats priced correctly
  3. The first 30 days is the most important days for your listing, make the most of it to get it sold
  4. The longer your home is on the market, the less the value in the buyers mind (What is wrong with this property?)
  5. Buyers search in price brackets. If your home is priced out of the price bracket, it may never be seen by the right buyer
  6. If there are no or few showings in the first week of hitting the Market, the Market is telling you the property is overpriced
  7. If the Buyers are coming to look at the property and not offering, the buyer is telling you it is overpriced and your home should consider a price improvement.
  8. In today's busy market, pricing your home correctly will get results very quickly
  9. Pricing your home just under market value will increase interest and may even have multiple offers and you may even get more than your asking price - this is a trending tactic in today's market!
  10. When you get an offer on your home - you still have to get through the appraisal process - Appraisers will show true value.
  11. Many "days on the market" can influence the property forcing it to sell for even less than the expected original selling price
  12. The buyer is the ultimately decision maker on how much a home is worth, not the Seller, nor the Agent.

Don't set yourself up for disappointment - take this golden opportunity to get your home sold in this busy market and do not miss your intended audience.

Pricing Your Home to Get It Sold

  • The most important thing to do is to get a Comparable Market Analysis from a qualified and experienced real estate agent
  • An experienced local real estate agent will know the trends in your location, the inventory for sale in your area and the recently sold listings too. With this relevant information, the agent will suggest a price range for your home
  • Ask your real estate agent if minor repairs or improvements can be done to increase your selling price and ultimately your bottom line


How to get the Best Possible Price For Your Home

  • First impressions count - make sure that your home looks fantastic from the street. Buyers will often ride by and if the house does not even look nice, they will not make the appointment to view
  • Make sure that your home is odor free. Pet smells are the first impression of the inside of a home!
  • Declutter – Open up space. Pack away out of sight and ensure there is flow in the home.
  • Light and bright homes sell more easily. Consider a fresh coat of light color paint if your home is dark and gloomy. Open curtains and blinds and allow light into the room. This is always makes a home more attractive to buyers.
  • If you can afford to have your home staged, it could increase your bottom line. Its a sound investment for a home that wants a bigger price tag

 

The Huerkamp Team are your real estate specialists in the Twin Cities and surrounding communities of Minnesota. We are ranked in the top 1% of agents nationwide! The Team is dedicated and experienced in the Twin Cities real estate market and we look forward to being your real estate agent for life! You will have a great experience buying or selling real estate.  We have many raving fans and the experience to deal with your real estate transaction.

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Whats Your Home Worth

In the Market vs On the Market

  #realestatemarket, seller tips, negotiating the sale, real estate agent duties, #selleragent, in the market vs on the market

Jason Huerkamp
14300 Nicollet Court # 208
Burnsville, MN 55306
612-314-6330

The data relating to real estate for sale on this web site comes in part from the Broker ReciprocitySM Program of the Regional Multiple Listing Service of Minnesota, Inc. Real Estate listings held by brokerage firms other than are marked with the Broker ReciprocitySM logo or the Broker ReciprocitySM thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.” Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items.” Copyright2019Regional Multiple Listing Service of Minnesota, Inc. All rights reserved. Data last updated July 16, 2019