Price is Key
Sellers often think they can set the price high for their home because that will allow them to bargain with buyers and still come out ahead – but in Calgary, real estate doesn't usually work that way. Overpriced homes tend to turn off buyers, who feel like they're being taken advantage of and might submit insultingly low offers in retaliation. Overpriced homes also help the better-priced competition sell faster. What's worse, many qualified buyers might not even come across your home in their daily MLS matches, because it's priced out of their range! Eventually, of course, you can lower the asking price, but it might already be too late; your home will have been exposed to buyers for a long time, it's not 'new' anymore and buyers will sense weakness and try to bargain you down even further.
house for sale by owner by Images of Money
Under-pricing on the other hand, has a better rap because it can create a frenzy of interest among home buyers, but it's a strategy that ought to be used with caution. Pricing very low may attract a lot of people, but they might be actually expecting to buy your home at a bargain price, which is not really what you want. Homes that are priced too far below market value can also arouse suspicion, as potential buyers will wonder if you are hiding something. And again, if you price too low, you may miss some buyers' target price range completely.
The bottom line: It is important to price your home according to current market value, which will help ensure a timely sale.
In a Rush to Sell?
Everything will sell – eventually! Everything has its price. If you are fortunate enough to live in a great northwest Calgary community close to good schools and shopping, you're sitting pretty in terms of your investment over the long term. But what if you need to sell right now, no matter what current real estate conditions are?
Homeowners who have to sell very quickly (to relocate for a job, for example, or to liquidate assets due to an emergency) have less leverage in the marketplace than those who can afford to wait for the real estate market to begin favouring sellers more heavily, or wait for a holiday season to end, or wait for similarly priced homes to sell on their street so they aren't in so much competition. Your selling timeline may affect the net price you are able to achieve for your home.
The good news is, if you do have to get to market very quickly, Calgary Real Estate™ has the resources to make that happen. Our extended team of professionals can get your home cleaned up, listed and advertised professionally in very short order, in part due to the fact that we have embraced new time-saving technologies. Depending on your level of flexibility, we will also discuss additional ways to entice buyers, such as attractive seller financing, including chattels with the sale of the home, or other concessions that will interest buyers and result in a quicker sale. Together we will make a plan to help you achieve your goals that's completely in alignment with your time crunch.