When you’re selling your Tennessee home, the list price you set is a critical factor in your return. That’s why you really need a professional evaluation from an experienced Realtor®. This person can provide you with an honest assessment of your home, taking into consideration the following factors:
- Market conditions
- Condition of your home
- Repairs or improvements
- Selling timeframe
In real estate terms, “Market value is the price at which a particular house, in its current condition, should sell within 30 to 90 days”.
When the price of your home is set too high, it may:
- Limit buyers. Potential buyers may not view your home because it appears to be out of their buying range. Most buyers correctly have a certain price range in mind and hesitate to look at anything above that.
- Limit showings. Other salespeople may be more reluctant to view your home. It just doesn’t fall in the parameters that they are using for their clients.
- Be used as leverage. Other Realtors® may use this home to drive the sale of other homes that are better-priced. Your home becomes a new “high water” mark for their CMA (comparative market analysis).
- Extend the time on the market. When a home is on the market too long, it may be perceived as defective. Buyers may wonder, “what’s wrong,” or “why hasn’t this sold?”
- Lower the price. An overpriced home, still on the market beyond the average selling time, could lead to a lower selling price. To sell it, you will have to reduce the price and sometimes it will be reduced several times. In fact in the end, you’ll probably get less than if it had been properly priced in the first place.
- Waste time and energy. A bank appraisal is most often required to finance a home. If it doesn’t appraise, the contract very often needs to be renegotiated or the buyer will simply not be able to get financing.
Realtors® have known it for years – well-kept homes that are properly priced in the beginning, always get you the fastest sale for the best price! And that’s why you need a professional to assist you in the selling of your Tennessee home.
Your Advocate in the Greater Nashville Real Estate Market
We help our clients understand the ever changing real estate market with the goal in mind of making informed, forward thinking choices. Whether you’re ready to buy in the Greater Nashville area or you’re thinking of selling, The Linda Seaton Team is your real estate advocate! Give us a call to discuss your real estate needs or even easier – just drop us a note right here.
The Linda Seaton Team – Your Advocate in a Changing Market
Linda – 615.478.9977