Is Your Collingwood House Priced Too High?

Yes, you have done it, you have listed your home! In today’s Collingwood Real Estate market it looks like any asking price will be accepted by an eager buyer. Realtors® and home-owners want to get the highest price possible for their property. Most are getting asking price, plus more!

So, when exactly should you reduce your asking price. Here are some key indicators that your expectations may need to be adjusted.

Listen to the Market

How many people are attending your open houses? How many people are viewing your property?

If 25-30 people have seen your home and an offer hasn’t come forward then the market is saying it is priced too high.

As a seller you should be asking buyers and their realtors for feedback after private viewings.

Pay close attention to the feedback that buyers and their agents provide. Look for common threads in the comments such as “it’s a bit expensive!” or “it seems a bit high.”

Within the first 3 weeks your home has its greatest impact. Analyze your showings, web traffic and open houses to get a feel for the appeal of your home. This is the time to adjust your price and not lose the momentum of marketing you have invested in.

How long has it been?

The thing that can cost you the most money is having your home stagnate in the market. Don’t hold out for that one buyer, if your home has been on the market for a long time it will attract bargain hunters and low ball offers. Keeping a realistic price an active home with lots of showings and buyer activity will bring in serious offers and you will be able to negotiate a better sale. So unlike dating, you shouldn’t wait for the perfect suitor to come along. Perfect is a high bar!

Are you the Highest Priced House on The Street?

Look at houses in your area and honestly compare yours to theirs. Act like a buyer not a home owner be critical about your home compared to the others in the neighbourhood. Look at the basics such as the size of house, location and condition of the house, and compare the price and time on the market.

Adjusting the Price

So, what if you have missed the mark and your house has been on the market for 4 months and no offers? Now is the time to delist it, make any repairs that have put off prospective buyers, perhaps stage your home and relist it at a new price. Watch the market react to the new listing.

Selling your Collingwood home shouldn’t be difficult. To get the highest price you need to price it right to appeal to most buyers; like flies to honey. Price it too aggressively and the honey may turn to vinegar!

Please contact me to sell your Collingwood home. I will show you how to get the best price for you and find you your next property in Collingwood.

Karl Hannan
Broker
M: 705 607 5900
O: 705 445 5520

Royal LePage Locations North
330 First Street Collingwood On
L9Y 1B4

www.realestateincollingwood.com

How much is my home worth? If you are thinking of selling contact me to get top dollar!

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