Helena Talbot's blog - How To Avoid The Temptation To Overprice Your Home

Pricing your home is one of the most important decisions you will have to make once you decide to sell your home and one that could cost you big if you get it wrong.   We know what you are up against.  You want to sell your home for top dollar and you want to sell it fast.   Right?  So how exactly do you go about finding that sweet spot? 

We know how tempting it can be to overprice your home.  You want to test the market or ask for a higher amount and then negotiate down, but remember, the market is flooded with competition and if you do any of those things you might just be deterring potential buyers or buyers may perceive you as being a desperate seller and you will continually get low ball offers.

Here are a few tips and tricks to help you avoid overpricing your home.

• Research Your Competition.  Have your realtor put together some information about similar homes on the market in your area and the ones that have recently sold and what they sold for.  If you overprice your home, buyers will not want to hassle with it and move on to the next one.  Additionally, home appraisers will use the area comps to determine your homes current value.  So even if you do get a higher offer, the appraiser may find your home is overvalued compared to other nearby homes and this can cause major delays in the mortgage process or you could lose the deal altogether

• Where Are Your Buyers Coming From?  The vast majority of home buyers begin their home search online.  They type in a price range, number of bedrooms, number of bathrooms etc. and if you have overpriced your home then your house will not even be seen by potentially thousands of possible qualified buyers

• Visit The Open Houses Of Your Competitors.  Before you put your home on the market, it might be very helpful to visit some open houses in your area.  See what your buyers will be seeing.  How do they compare to your home?  How are they priced?  Learn what strengths and weaknesses your home has so you can address them in advance.  Doing this is the best way to get a reality check on exactly how to price your home

• Get A Home Inspection Now.  If you are thinking about putting your house on the market you should consider getting a home inspection in advance.   Home buyers always use the home inspection to get you to lower your price.  However, if you learn the issues in advance,  you and your realtor can decide which ones to take care of prior to listing your home so that they will not be an issue with your home buyer.  This could potentially save you thousands of dollars in the long run.  In addition, you can set the price of your home contingent on any needed repairs

Talk to your realtor to help you make the best possible decision for pricing your home.  Your realtor will be more than happy to do all of the leg work for you and provide you will all of the competing information and stats you will need.  When in doubt - go low.  An overpriced home will cause more problems for you in the long run and once the damage is done, it may not be easily reversed.

I specialize in helping buyers and sellers invest in real estate in Loudoun County and Northern Virginia. 

I have over 25 years experience in the real estate industry.  As a Broker/Owner with Exit Realty Talbot and Company, I bring special tools and solutions that enable me to exceed the expectations of my clientele.  If you are considering listing your property in Loudoun County or the nearby areas, ask me about our latest internet marketing systems.  I would appreciate the opportunity to earn your business.  I am experienced in listing and selling short sales.  For information on the short sale process, please visit  www.LoudounShortSaleSolutions.com.

My past awards and designations include – 2003 President of the Dulles Association of Realtors, 2003 Dulles Area Assoc Realtor of the Year, Salesperson of the year 2000 Dulles Area Assoc of Realtors,  Top Producer awards from both the Dulles Area Association and the Northern Virginia Association of Realtors.  I am a member of the Top 5 in Real Estate Network.

I have lived in Loudoun County since 1979.  I am married with two grown children and two grandchildren.  My son in law is my business partner in real estate.  I love to jog in the mornings and spend time relaxing on my Trawler during the summer months.

Loudoun County and Northern Virginia Real Estate Sales and Solutions – Helena Talbot, Broker. I specialize in helping buyers and sellers invest in real estate in the Northern Virginia area to include Loudoun County and surrounding areas including Fairfax, Clarke, Fauquier, Prince William  Counties.  Our local neighborhoods include Leesburg, Ashburn, Sterling, Potomac Falls, Brambleton, Broadlands, Lansdowne, River Creek, Belmont Country Club, Beacon Hill, Shenstone, Waterford, Lovettsville, Purcellville, Hamilton, Round Hill and Bluemont.                        Cell 703.727.9885    Office 703.574.3800   www.facebook.com/LoudounCountyConnect  www.twitter.com/ExitAshburn  www.Linkedin.com/in/HelenaTalbot