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When selling your home in SWFL, attractive pricing and packaging are arguably the two most basic essentials. In our current real estate market, there are many buyers and you want to maximize what one will pay to own your home. Since no two homes are the same, making that distinction between your home and the dozens of others is key.
Study past sales and pending sales.
This is where we start for any thoughtful and successful SWFL pricing strategy; think of it as the "science" part. Take the time to study past sale statistics and those homes in escrow for homes in your area and areas similar to yours. None will be identical, of course, but having a clear understanding of true market value is the first step in establishing your list price.
Do not confuse active listings with past sales.
Active listings have not sold and are actively available for sales. These are your competition. It is important to be aware of your competition's pricing, but this could just be an indication of what your home won't sell for.
Do not overprice because you have "time."
If the SWFL market is appreciating, this strategy may work, but if prices in your area are declining, you may quickly find yourself chasing a market and costing yourself money. And if the market is stable? Your home will just sit. Buyers pay in today's dollars, and time is rarely on your side.
Leave some room for negotiation, but don't overreach.
No seller wants to feel he left money on the table, and no buyer wants to overpay. Your price should give both parties room to negotiate, but if it is too high, you risk being perceived as unrealistic, and buyers will pass over your home.
Think like a buyer.
What are the things that you value in a home? Is it a large yard, an updated kitchen or a gulf access lot? These are likely the same things that your buyer values as well. The property backing up to the the busy street is going to be a tougher sell than the one on a quiet culdesac. Your price should reflect how your home compares to the others offered for sale. Buyers will find objections to any home, as none of them are perfect, but it is curious how quickly objections disappear when the price is compelling.
React swiftly and decisively.
If your home is on the market and is not being shown or if you receive continued feedback that you are priced too aggressively, don't hesitate to adjust your price. Bad news, like spoiled milk, doesn't get better with time.
We help our seller clients price their properties by providing a custom CMA (Competitive Market Analysis). This analysis shows similar homes nearby from MLS data that are currently on the market, sold and in escrow or sold and have closed in the past 6 months. This information along with the unique attributes of comparing the properties allows us to suggest a sales price or the seller to name their own
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