Finding Your Price Range - Landing Real Estate

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Finding Your Price Range

Now that the holidays have come and gone, we are preparing for another strong spring market! You might be surprised at how long buyers scour the Internet for properties before they even talk to a realtor! They average about four to six weeks looking at homes online, educating themselves to get ready to make a move. If you are considering selling your home, it is important to strategize with a realtor the best timeline for your property and to set your expectations upfront as to when the best time to list your home. Just like the buyers, it is important for you, the seller, to do your homework and educate yourself on what type of market your property fits under. It is not the same for everyone.

What type of market does your home fall under?

Price range will generally define where you are and how to best position yourself in today’s market.

Lower price range – First-time home buyers typically stay in the lower price range. This price range is usually a hot market, the most amount of sales will be around this price range. So when listing your home, it is best to aggressively price your home to ensure a quick sale for the most money. When more than one buyer falls in love with your property and sees the value of the price, this creates multiple offers. We all know this is the goal of every seller when listing their property.

Median price range – This seems to be the toughest market to get right for some people. Most sellers think their house is the best compared to what is on the market. I challenge every seller in 2014 to go out and look at other homes that are on the market before you list your home and put yourself in the shoes of a buyer! Look at the features and benefits and the price of the listing and determine how it compares to your home. Buyers are “shopping to find the right deal”. As a seller you have to position yourself to give more features and benefits at the same or even better, less price! This is what causes a frenzy of buyers! Multi-offers! You must give the buyer the value!

High-end price range – Here you have very savvy buyers, who are not looking primarily for the value. Their focus is more towards what does your property offer in amenities and value. A double whammy! The same principle applies across the board! Have you noticed the trend yet?

When looking to sell your home this year, position yourself for success. Educate yourself by looking at similar homes on the market, meet with two or three realtors to help educate you about the current market trends and sales prices. Lastly, list with an agent you feel most comfortable with to best expose your property to be in front of as many buyers as possible to get the job done.

As I have said since the beginning, please call a local realtor for all your real estate needs no matter how big or small. We are trained professionals here to make your life easier. It’s best to surround yourself with the right team of professionals that can continuously give you the right advice for all your circumstances.