Selling Your Home
Efficient Sale
When you decide to sell your home in Austin, you want to sell it for as much money as the market will allow.
- Pricing too high will keep your home from selling
- A low price will keep you from receiving full value
Here are some main points to consider when pricing your property...
Know the Austin Real Estate Market
- The market determines value (Free Austin Home Evaluation)
- Price your home competitively, based on:
- the price of homes that have recently sold,
- are currently for sale,
- listings that have expired in your neighborhood.
- Condition of your Home
- Buyers base their decisions on the condition of the home as well as the price.
- Take the time now to prepare your home to attract potential Austin real estate buyers.
Select a Knowledgeable Realtor in Austin, TX
The Realtor brings the market to you. The market brings your price.
The right Realtor is the one who knows the Austin real estate market and can get you the best price possible - not the one who promises you the highest price just to get you to list with them!
The majority of homes in Austin are sold within the first 3 weeks! If a home is not sold within the first month, the price is probably too high.
The Benefits of Pricing Right
- Your Austin home sells faster
- Your Austin home never loses its “marketability”
- There is less inconvenience to you
- Realtors will focus their energies on your property because it is more marketable
- You will attract more potential Austin home buyers. A well priced home gets a better response from sign calls and advertising
- The closer the price is to market value, the higher the offers
- Well priced real estate in Austin generates the excitement that produces higher sale prices. You net MORE money both in terms of actual sale price and in less carrying costs.
The Factors that Influence Overpricing
- Extensive renovations and hidden costs
- Urgent need for money
- Desire to purchase in a higher priced area (i.e.. West Austin, Westlake Hills, Tarrytown)
- Original cost of home too high
- Lack of Austin real estate market information
- Building in “bargaining room”
- Perceived emotional value
Missing the Right Austin Home Buyer
You may think that interested buyers “can always make an offer”, but if the home is overpriced, potential buyers looking in a lower price range will never see it. Those who can afford a home at your asking price will soon recognize that they can get better value elsewhere.
Remember, the wrong price attracts the wrong buyers. In fact, it may even help sell your neighbor's home.
The Results of Overpricing Real Estate in Austin
Many Austin home sellers believe that if they price their house high initially, they can always lower it later. Often when a house is priced too high, it experiences little activity. Gradually the price comes down to market value, but by that time it has been for sale too long and Austin home buyers are wary.
On occasion, the price is dropped below market value because the seller runs out of time. The property sells for less than it is worth.
The Importance of Early Activity
As soon as a home comes on the Austin market, there is a flurry of activity surrounding it. This is the crucial time when Realtors and potential Austin home buyers sit up and take notice.
If the home is overpriced, it doesn’t take long for interested parties to lose interest. By the time the price drops, a majority of the buyers are lost.
For those of you considering selling your Austin real estate you should carefully consider pricing your home to market value. If it's priced right, there will be many interested home buyers and you should receive an offer within the first 2 months.
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Ronnie Bredahl, Austin Realtor
Austin Real Estate Broker
4802 Woodside Drive
Austin, Texas 78735
info@austinreferralrealty.com
Telephone: (512) 785-9050
