Are you thinking, “How important is the asking price when selling my house?” As you may know by now, selling your house can be a stressful time. One of the first things you’ll be thinking about is selling price and how much you should sell your house for in the 54814 or 54891 zip code. One of the first questions you should understand first is: How important is the asking price when selling a house in Bay View WI? In this post, we’ll discuss three things to help answer this question and prepare you when you decide to sell your house…..
As you may know, when you are looking to sell your house, you set an asking price. Most people know that this is rarely the selling price – why set an asking price at all? So, how important is the asking price when selling a house in Bay View WI? Actually, an asking price is a very useful “tool” that does 3 things for you…..
1. Price Attracts Certain Buyers While Repelling Other Buyers
There are buyers at every price point in the spectrum. A higher asking price will catch the attention of higher end buyers (while it repels low-end buyers) and a lower asking price will attract the attention of lower-price buyers (while it repels high-end buyers).
It is important to know, there’s nothing wrong with this…. after all, it’ll be a waste of your time trying to sell your house to someone who has no intention of buying it. So understanding the right asking price can be used to help the right buyers see your house as a desirable purchase.
2. Price Reveals Information To Buyers
The right asking price of your house (in comparison to similar houses in your area) will reveal information to potential buyers. As an example, if you live in a neighborhood where the average sale price is $120,000, and you’re asking $95,000, what does that say to potential buyers? It says that your house may need some work or you’re in a hurry to sell. And what if you live in that same neighborhood but ask $130,000? It might say that your house is superior to the other houses because of how you’ve updated it.
3. Price Is The Starting Point Of Negotiations
Although possible, it’s very rare for a house to sell at exactly the asking price. All home sales are negotiations between the sellers and the buyers (and the agents that might represent them). The asking price simply puts a piece of information out there for negotiations to begin from. As a seller, you might put out the price and then work on getting a higher price while your sellers start with that price but work on getting a lower price. It may be important to find a buyer that is seeking a win win situation where you both benefit from the sale of your house. Sometimes an agent is not looking for that win win situation as they desire the highest price possible….it might take longer to sell your house if you want to squeeze every penny possible out of the buyer.
So, just how important is the asking price when selling a house in Bay View WI?
Overall, asking price is very important to help a house sell. But it’s not the only way to sell! If you’re not sure what your asking price should be, or if you’d like to skip the sales process altogether, you can get a all cash offer from us!