How to Maintain Expectations When Selling a Home

Filed under: Real Estate Market

Tagged with: · ·

There is a lot that goes into a real estate transaction, which is why it’s essential to ensure that you are working with an experienced agent for assistance. A pro can help you maintain realistic expectations, and also structure the deal to protect your interests so you have success with your home sale.

Selling a Home? 3 Expectations for Every Seller

Every seller wants to get the home sold as quickly as possible so they can roll the equity into the purchase of another property. Here are a few realistic expectations to hold onto so you can have a positive outcome with the transaction:

  1. Set the Price at Mid-Range: You want the most equity possible, which is why homeowners often want to choose a price tag at the top of the range. This trend is even more common in a seller’s market, especially when you hear about other homes selling for tens of thousands of dollars over asking price. A better strategy is to choose a mid-range price for the property because you will get more buyers who are interested in the home. The goal is to bring in multiple bidders, which can help to drive up the final price when buyers are competing.
  2. Look at the Current Market: Real estate prices are changing fast, which means that you need a current estimate based on immediate market conditions. Regardless of what an appraiser says, the market is the true determination of the home’s value. Competitive elements in the market will raise the value of the home, so you might be able to get more than what the appraiser determines.
  3. Neighborhood Desirability: Also, consider the demand of the neighborhood because it will impact the pricing of a home. Home value goes up for homeowners who are looking for a good school district and other conveniences. But you can expect the price to drop if the home is in a poor location.

Remember: Pricing a home too high will have a negative impact on your final selling price. If the listing is on the market too long, then it usually goes through several price adjustments, which causes the property to be less appealing to potential buyers.

If you are getting ready to list your home for sale, then keep these expectations in mind. For more advice about the Temecula real estate market, feel free to reach out at your convenience. Contact me by phone or email: Cale Thomas at (951) 473-0390 or [email protected].