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Jon Bell | Railey Realty

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Pricing Your Home For Sale

Railey Realty agents are the local experts when it comes to selling Deep Creek Lake and Garrett County real estate. Our goal is to work with you to achieve the highest possible price and the best terms. We can accurately assess your property's current value based on the market and its unique features and characteristics.  We pledge not to give you a high expectation just to get a listing, as over-priced listings get ignored and ultimately hurt your market value. The process of accurately pricing your property begins with an extensive analysis comparing your home to similar properties that have recently sold. Also taken into great consideration are the current prices of similar properties on the market. Below is a check-list of items to follow when pricing your home. 

Listen to an Expert Agent

Whether the market is up or down, most people tend to overvalue their possessions, including their home. Buyers will most likely not understand your justification for a higher price. As an established local brokerage, we can accurately assess your property's current value by objectively using comparable sold data of similar houses. Markets can quickly change. An appraisal from one or two years ago has no relevance now. 

Active Listings Aren't Market Proven

Simply put, properties currently on the market are just that - properties on the market. They haven't sold yet and aren't market-proven. While current prices need to be considered when setting a listing price, much more weight is given to the sold price of a comparable recent sale. 

Over Priced Listings Often Get Ignored

Today's buyers are more knowledgeable than ever about current home values. Access to sold information is easily obtained online. If a potential buyer or agent feels a property is over-priced they won't even bother looking at it. Showing activity is the key to getting an offer and ultimately sold. For your house to get showings, it needs to be priced correctly.

Upgrades Don't Always Mean a Higher Price

Upgrades and improvements certainly help quite a bit when selling a house, but they don't always equate into more money at the closing table. The value of upgrades is often debatable by purchasers. Upgrades and improvements are sometimes expected or don't even get noticed.

Days on the Market Matter

When days on market start to get higher, buyers tend to think there is something wrong with the house or property. Higher days on market also create a perception in the market that the listing is stale, which is something to avoid. Buyers then tend to make lower offers on listings they consider stale. 

Price It Right From the Start

Pricing your home correctly at the start is the best way to sell for the most money. It's a gamble to over-price. Over-priced properties generally require several price drops until they sell. One piece of advice that helps is to think like a buyer. Buyers are going to compare your house with others. Your price should reflect what you think are the best features but also taking into consideration things that are not so attractive about your listing.


For a free comparative market analysis of your property's current value, please fill out the form below and one of our agents will be in touch shortly!