Selling Your Colorado Springs Home: The Importance of Proper Pricing from Day One
If there was only ONE thing that I could tell someone looking to sell their Colorado Springs home, it would be:
Price it Right From the Very Beginning – Day One
Ultimately, finding the right Colorado Springs Real Estate agent who does all the right real estate marketing is only secondary to pricing the home correctly and effectively from the first day it goes on the market.
Our experience has shown that a well priced home will sell quickly in ANY market – Buyer, Seller, Up, Down, Slow, Hot, Bull, Bear, Imaginary … In fact, our best priced homes that we list in Colorado Springs are STILL getting multiple offers inside of the first 30 days on the market.
The Colorado Springs Real Estate market is in a much better situation than some other areas of the nation, but we have still seen more homes for sale in Colorado Springs and less active home buyers than we have seen in over a decade. This means that the home buyers that are out there looking for a home to buy have a much larger selection to choose from.
Recently, I had the honor of being invited to write an article for the nationally popular Miami Real Estate Blog – Miamism. I wrote a piece called: Top 5 Tips for Selling Your Home in a Down Market. In this article I touched on the importance of proper pricing and why it is ESSENTIAL from the get go:
“… [Proper pricing from the begining] is said a lot in the real estate world, but is rarely explained to the home seller effectively. It is human nature to want to make sure that you are getting the MOST money possible for your home. Often, home sellers will say, ” Let’s price it a bit high, and then we have room to negotiate.”
Let’s look at this backwards : In a Seller’s Market, when a new home pops up on the market, the whole pool of available Buyers rush to go see it. The most qualified, ready-to-buy Buyer will get that home. The home is not going to wait around for the semi-qualified, partially motivated Buyer to get their act together a couple weeks later. That doesn’t make sense, right?
In a Buyer’s Market/Down Market the same principals are at work: When a new buyer pops up onto the market, they will look at all available homes that fit their needs. The best priced, best looking home will get the offer. The Buyer is not going to wait around for the over-priced home to lower their price, nor will they bother negotiating when they can get a perfectly-priced home with less hassle. So, now the over-priced home will have to sit on the market until another buyer pops up.”
As a home seller, you will need to put yourself in the minds of those home buyers if you want to appeal to them at all.
Please keep this information in mind when you start interviewing your next Colorado Springs Real Estate Agent. Make sure that the agent you choose fully understands what your competition is SELLING for and can price your home to SELL, from the very beginning.
Top 5 Tips for Selling Your Home in a Down Market
Selling Your Colorado Springs Home: The Importance of Multiple Photos
Dispelling 3 Housing Market Media Myths – Myth #3: I Cannot Sell My Home in This Market
(For those of you wondering why there are penguins in this post, there is no reason. Penguins have nothing to do with real estate in Colorado Springs. Duh.)