How do I price my home right without giving it away?

"How do I price my home right without giving it away?"

Maybe the single most important question we ask ourselves when preparing to sell our homes. Your home, is not only one of your largest if not the largest asset in your portfolio, but it's where "Lizzy" took her fist steps or where "Jr." fell off the tree and broke his arm after you insistently told him not to climb that rotting elm tree! Our homes not only have a current monetary value but a forever sentimental value. So how in the world do we put a price on that?!

There is no simple way to price your own home. According to Realtor.org, in 2011 10% of homes on the market were "For Sale by Owner" (FSBO) properties. On average, a typical FSBO home sold for $150,000 compared to $215,000 for agent assisted home sales. Why did they sell for $65,000 less on average? Let's look at some reasons:

1. Limited access to current market data and price trends
2. General but not thorough experience selling a home
3. No access to MLS
4. Agents avoid showing 'FSBO' homes
5. Lack of marketing exposure (nationally & locally)
6. Many buyers feel intimidated working with home owners
7. In many cases, priced to high – generating no interest
8. Homeowners usually pay higher legal fees, even if sales does not go through

Real estate is an extreme amount of work – a full time job, however it's not rocket science, and in a town like East Greenwich, with the vast population being educated and capable, you may be able to (with the right tools and support) price your home within the ball park. For further reading and instructions, you can learn how to price #yourhome here. or you may want to contact a full time Realtor for support. 

Weichert, Realtors – Cress & Company, one of the area's longest running firms has been servicing East Greenwich for over 30 years.  Emilio DiSpirito is a full-time Realtor with Weichert and can provide you with a price trend analysis on your home. Call 401-359-2338 to schedule an appointment.