5 Questions Everybody Asks When Thinking About Selling a Home
BRANDEN GRIFFITH
June 12, 2024
Selling your home is an emotional process, as well as a significant financial decision. Deciding to move in the first place is the biggest hurdle, but then comes the reality of having to prepare and sell your home.
Here are a few common questions and ideas that come up as people consider pricing their home and when they are evaluating an offer:
SHOULD I START HIGH SO I HAVE ROOM TO NEGOTIATE?
ANSWER: Buyers today are well-informed and homes priced too high often sit longer and lose momentum. Pricing competitively from the start attracts more buyers and can actually lead to stronger offers.
WILL MY HOME’S VALUE ALWAYS REFLECT WHAT I PAID FOR IT PLUS UPGRADES?
ANSWER: Some upgrades do increase value, while others simply make a home more attractive to buyers. Market value is truly determined on buyer demand and comparable sales, not just past investments.
CAN I GET A BETTER OFFER IF I HOLD OUT?
ANSWER: The first serious offer is often the best one. New listings generate the most interest in the first few weeks when buyers are most active. Waiting too long can reduce urgency, leading to fewer offers and price reductions down the road.
IF MY HOME DOESN’T SELL QUICKLY, SHOULD I JUST LOWER THE PRICE?
ANSWER: Strategic pricing from the start is key. Price reductions can signal to buyers that something might be wrong with the home. We aim to price it right the first time to create early demand and avoid chasing the market downward.
IS WAITING FOR THE ABSOLUTE PEAK MARKET THE BEST STRATEGY?
ANSWER: Timing the market perfectly is nearly impossible and each season has its own advantages and disadvantages. The real estate market fluctuates seasonally, but also based on larger economic trends. What matters most is your personal goals, local trends at your price point, and buyer demand.
related articles
BY BRANDEN GRIFFITH
How To Buy a House While Selling
BY BRANDEN GRIFFITH
Expected Costs When Selling
BY BRANDEN GRIFFITH
Eliminating (and preparing for) Friction