Koffee with Kelly – Real Estate Tips for Sellers. Here is a cautionary tale about maximizing profit when selling your home. Overpricing your home means it will sit on the market and sells for less.

Are you Leaving Money on the Table?

Here is a cautionary tale about maximizing profit when selling your home. Overpricing your home means it will sit on the market and sells for less. Too many “days on market” will decrease the perceived value to buyers (if that house is so great, why hasn’t it sold already?), leading to the seller agreeing to that lower final sale price. Consider the market, the condition of your home, and other recent neighborhood home sales to come up with the best price for your home. 💰💰💰💸

As a real estate agent with an economics background, I take data-driven approaches to determine the best list price for my clients. I factor in the market, comparable homes, upgrades, and general condition. I help set fair and strategic prices for clients to maximize returns.

I interviewed for a Brambleton, VA, listing. I wasn’t chosen because my price of $950,000 was lower than the sellers wanted. The house was listed for over a million dollars, but the market didn’t support it. The sellers dropped the price many times, and the home ended with a final closing price of $899,000.

The first few days a home is on the market are critical to the home sale. A price too high may deter buyers, slowing down the selling process. Overpricing can chase away buyers and lead to a longer sale, causing stress. Good marketing, sprucing up your home (Check out this video), and setting the price correctly upfront can attract many buyers (if many are interested in a property, you are more likely to get multiple offers). A price of $950,000 would have attracted those crucial folks.

If you want to sell your home, it’s essential to understand the factors that affect its price. An agent like Kelly Ettrich can help you price your home right. Don’t miss out on potential profits by pricing too high or too low. Let Kelly Ettrich guide you through the process.