Why you should raise your asking price
Author: spencer   January 20, 2018

One of the key factors that go into selling your home quickly is the asking price. Is your home worth more or less than what you originally bought it for? There are a lot of factors that go into deciding what you should list your home for. Of course, you want to sell your home quickly, but that doesn’t always mean you should low-ball your asking price.

Here are a few reasons why you should raise your asking price after already listing your home:

  1. The market has changed.
  2. Your home has features and is in better condition than newly listed properties.
  3. You have upgraded since first listing your home.

The market has changed.

Are prices rising in your area, while inventory is dropping? If so, that may warrant a price increase on your home. Price increases aren’t unheard of, but they don’t have to be dramatic either. When you notice a change in the market, you should act accordingly and speak to your real estate agent as soon as possible, instead of waiting. If you wait, you could miss out on a couple thousand dollars and the possibility of garnering new eyes on your property.

Your home has features and is in better condition than newly listed properties.

While your home is on the market, properties will pop-up that are similar or quite a bit different than the one you have listed. If you notice that your home has features or is in better condition than the newly listed properties, then you may want to consider a price increase. Don’t be afraid to raise the price of your home, because potential buyers will see the value of your home.

You have upgraded since first listing your home.

If you have made any upgrades since listing your home, then a price increase is something you will want to consult your realtor about. Whether your updates were unexpected or because you were trying to hurry along the sale, they have caused the value of your home to rise. Updates that could result in a price increase: kitchen, bathroom, new floors, new roof, etc. Buyers love a move-in ready home because they don’t have to spend time making these time-consuming and costly renovations themselves.

If you are ready to put your home up for sale and schedule your first open house, be sure to contact us today!


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