The Price is Right, right?

What’s the #1 seller-controlled attribute that determines a home’s “sell-a-bility”?  Price!   The first thing I learned as a new Realtor was that there are 4 things that sell a home:  location, price, condition, and terms.  The seller controls 3 of those and all can be addressed by the price.  Price trumps all!   So, time to play The Price is Right!  But only if you’re in it to win it–i.e. sell your home!

If you, the seller, are not willing to be realistic on pricing your home to sell, then you’re not really a seller.  That’s fine, but don’t expect your real estate professional to pull a rabbit out of his or her hat and find the magic buyer who’s going to buy your home!  And don’t be upset if your realtor is not willing to spend outrageous sums marketing your home when there’s little to no chance that those expenses will be recouped by the sale of your home.

I’ve said this before, but it bears repeating–when you put your home on the market, it becomes a product in the marketplace.  You, the seller, must be able to put aside your emotional attachment to your home and view it as a buyer will.  As with any product, you must be competitive in price to get a serious buyer interested in even looking.  Remember the quote in my previous post?  “It’s a price war to the door…”   If your home is overpriced, then buyers who may be interested won’t even look and those looking in the price range you set will not see your home as comparable to others in that price range.  Either way, you lose!

Setting a realistic and appropriate price is what a good realtor does well.  We know the market, we can show you what comparable homes in your neighborhood have sold for, and we know what today’s buyers are looking for and what they’re willing to pay extra for–or not!

If it’s been several years since you sold a home, things have changed a lot!  If you bought at the top of the market, you may not be able to get back what you put in.  Sorry, but that’s today’s reality.  We may not ever get back to the way things were a few years ago, so if you’re holding out for that, time to go to Plan B!

Good luck!  Home sales are going up, but price is still king!  2011 is looking to be a good year in San Antonio.  Contact me (click on Contact tab at the top) if I can help you with buying or selling your home!

Sue Trautner, CRS