Pricing Your Home to Sell
When determining the list price of your home, you may want to give yourself a little cushion for negotiation, unless you live in a hot seller’s market. There also will be some expenses, including a broker fee to deduct from the proceeds of the sale.
Pricing your home is as much art as science; it’s a delicate process. A recent study of more than 12 million home sales in the past five years found that homes for sale get five times more visits on the very first day they’re listed than they do a week later. That means if buyers believe your home is overpriced from the start, they may not take a second look.
And cutting the price later may not be helpful, since just-discounted homes get half as many views as newly listed properties.
Even if you go it alone without an agent, you’ll have marketing expenses (signs, fliers, listing costs, photography, etc.) closing costs and any incentives or contingencies that you are willing to offer in order to motivate potential buyers.