How to Accurately Price Your New York Home

Lou Cardillo Home Selling Team Real Estate Podcast

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Challenge me to sell your home in 60 DAYS OR LESS!

There are two things that sell homes: pricing and marketing. You need a strong broker with an aggressive marketing plan and a strong pricing strategy like we do.

Compared to similar homes in the local market, your home must be the most attractive, lowest priced home to sell successfully. You will get your equity out of your home, depending how aggressive and serious your asking price is.

Homes fail to sell because they are priced incorrectly. Most brokers use market value to price your home above that. That space between the true market value of your home and the asking price is fluff. The thinking is that the buyer will make an offer above market value but below the asking price.

My advice: remove the fluff! When you price your home over market value, it stays on the market longer. Let's say the market value of your home is $100,000 and you price it at $125,000. You won't receive any offers on an overpriced property because buyers will realize it! Your broker will recommend a price reduction. Even if you reduce the price to the market value of $100,000, buyers will make offers of $75,000 or $80,000 because they'll think you're desperate to sell.

When your home is priced at market value, buyers know it won't be on the market for long. If your home is in top condition in a desirable location, you can easily end up with a bidding war, which could increase the property price.

You need to price correctly initially if you want to sell your home quickly for top dollar. If you have any questions about real estate, give me a call or send me an email. I would be happy to help you!