5 Ways to Price Your Home Correctly from the Start

Pricing your home accurately the moment you put it on the market is extremely important. You can have the most amazing house for sale in Eldon, Laurie, Lake Ozark, or any of the other towns in this area, but if it isn't priced right, it may never sell.   A good real estate agent at the Lake of the Ozarks will make sure that this happens by working with you to find that perfect price.  Here are a few tips to get you thinking in the right direction.    

1.  Study recent home sales.  

Take a look at the final sale price on houses that have sold recently in your area. This gives you a good idea for a starting point when pricing your home.  This doesn't mean the houses that are for sale right now, but the ones that have already been sold.  Compare the original list price to the actual final sale price.

It's also helpful to look at the houses that are still sitting on the market, not selling.  Take notes about the things that they are doing wrong and learn from their mistakes.  You may see a pattern among them that you can avoid.   

2.  Don't overprice. 

Some sellers think that if they are not in a hurry to get their property sold, they can start out with a price that is way too high just to see if anyone will bite.  This is not a good idea.  You may be missing out on serious buyers because they won't even take the time to see what your property has to offer.  The fairly priced homes typically get more attention.  Also, studies show that homes that are given a price reduction generally sit on the market longer and often end up selling for less than they should.  Buyers may assume something is wrong with the property if no one else wanted to buy it and be very skeptical.    

3.  Be ready to negotiate.

While you shouldn't overprice, it is wise to leave yourself a little "wiggle room."  If you can fairly ask for a little more than what you really want to get out of your property, you will be able to negotiate with the buyer.  They will think they are getting a better deal, and you can still end up with what you really wanted.  Be careful though, because if it's priced too high, you'll run into the problems discussed in tip #2.

4.  Be flexible.

Your price may change some during the time that your house is on the market. Many factors can weigh in on this.  Market conditions change, new information may become available about your home or the neighborhood, or you may get some upgrades done that make the property worth more.  Trust your real estate agent to clue you in on any changes that should be made.    

5.  Think like a buyer. 

To find a good asking price for you home, think about what you would be willing to pay if you were the one buying it.  Look your house over with a fine-toothed comb and be extremely critical.  If you are your own worst critic, you can take care of any problems a potential buyer might have before they happen. 

Another way to think like a buyer is to shop around for yourself.  Attend open houses for homes that are similar to your own.  What do the other people at the open house like about it and what do they have problems with?  You can learn a lot from this perspective.  

Devine & Associates knows how to price your home right!

Pricing a home correctly is a very important factor to getting it sold quickly.  The very best way to accomplish this is to turn to a professional.  Our Lake of the Ozarks real estate team is filled with experienced, well-trained agents that thoroughly know what's happening in the housing market and the different neighborhoods in the Lake area.  If you want to know that your house is priced right, trust Devine & Associates to find the best possible asking price.              

Where Your Best Interests and Our Best Efforts Meet

Devine & Associates Real Estate
Eldon office:  (573) 392-9900
Laurie office: (573)207-8407

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