Important Strategies for Pricing Your Home Accurately to Sell in the Columbus Ohio Real Estate Market

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What clients say…

“Our home sold in only 6 days at 99% of the list price because you listed it at a realistic price and you were helpful and tactful when negotiating the sale and purchase of our homes. Thanks again for all of your help with both houses, we love our new home!”
- Benjamin & Tami Walum
Clintonville, Ohio

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Petra has a keen understanding of Columbus Ohio real estate market conditions and values of homes, condos and investment property in Columbus and Central Ohio suburbs. We can provide a professional Market Analysis of your property to help you determine a competitive price range. We’ll evaluate your direct competition, your immediate plans and needs, seasonality & timing, recent & current market activity and pricing practices in your area to establish the right selling price for your property.

Pricing your home accurately is very important! Price it too high and your home can sit on the market and become “stale” potentially costing you thousands. Price it too low and you’re giving it away. Petra’s goal is to help you accurately price your home to be competitive in the current Columbus Ohio real estate market and get the return you deserve on your investment.

Following are some of the dangers of over pricing your home:

You will lose the excitement that a new listing generates.
You will lose the most qualified prospects!
Overpricing helps sell other homes first.
Your home may sit on the market and become stale.
You lose a strong negotiation position when your home is on the market a long time, both financially and mentally.

You will lose the excitement that a new listing generates.

Realtors are already working with buyers who are aware of what is currently on the market and are waiting for something new to be listed. Therefore, the most activity typically takes place in the first 30 days of a listing. Your home will probably receive it’s highest and best offers during this time. After that initial period, the only people to look at your home will be new buyers entering the market.

You will lose the most qualified prospects!

Most buyers know the market, especially if they have a good realtor. If your listing price is more than 5% above market value, potential buyers may not even bother to make an offer. Buyers will not just “make an offer” because they will probably never see your home. They will view properties that are priced within their purchase power range, knowing they cannot afford anything above their price range.

Overpricing helps sell other, more competitively priced homes first.

Your home may be used to demonstrate the good value of other properties. Your objective should be to enter the market in a position that will attract prospects, not drive them to other homes.

Your home may sit on the market and become stale.

Prospects may wonder why it has been on the market so long or if something is wrong with the property, even after you lower the price. You may even have to settle for less than market value. A house can take on a reputation surprisingly fast, so make the most of your entry to the market!

You lose a strong negotiation position when your home is on the market a long time, both financially and mentally.

Prospects will not “rush” to make an offer on an overpriced property and you may feel compelled to accept less when they finally do. If you do get an offer, the contract may fall through because of appraisal problems.

Petra Hinterschied - Re/Max Connection Realtors