We buy houses in Minneapolis St Paul. How important is the asking price when selling a house? Learn how important the asking price is to selling your house no madder where it is in Minnesota .
When someone is putting their house up for sale the first thing that comes to mind is how much there are going to get for it. A more important is coming up with the right price so that the house will sell at the price that the market sets. You heard me right. It does not matter what you think the house should sell for, if that someone else is willing to pay for the house that determines its price. So, how important is the asking price when selling a house in Minneapolis St Paul Minnesota ? In this blog post, we’ll answer this question to help equip you when you sell your house…
When you want to sell your house, you set an a price that you want. Of course, most people know that this is rarely the selling price – so why set an asking price at all? Just how important is the asking price when selling a house in Minneapolis St Paul Minnesota ?
An asking price is actually a very useful “tool” that does 3 things for you.
First, It Attracts Certain Buyers And It Repels Certain Buyers
There are buyers at every price point in the spectrum. A higher price will catch the attention of higher end buyers (while it repels low-end buyers) and a lower price will attract the attention of lower-price buyers (while it repels high-end buyers).
There’s nothing wrong with this – after all, you don’t want to waste your time trying to sell your house to someone who has no intention of buying. So the right asking price can be used to help the right buyers see your house as a desirable purchase.
Second, It Reveals Information To Buyers
The price of your house, in comparison to similar houses, will reveal information to potential buyers. For example, if you live in a neighborhood where the average sale price is $100,000, and you’re asking $75,000, what does that say to 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 $125,000? It might say that your house is superior to the other houses because of how you’ve decorated it, or its just overpriced for the house.
Third, It Is The Starting Point Of Negotiations
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 buyer, 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. In one degree its kind of playing a game of chess, trying to outwit the other to what they are thinking to get what you want. Often the one who waits the longest gets what they want.
Fourth, You Are Not Even In The Range To Sell
Some sellers are so out of touch with what their house is worth they ask way to much for it and no one even wants to look at it. They have it for sale for a year and wonder why it doesn’t sell. They may get opinion of an good real estate agent or close friends who some of them might even be truthful with them about the price, yet they do not take the advice. We hope that after some time they start to understand that the asking price when selling a house in Minneapolis St Paul Minnesota is very important and adjusting it after being on the market for that long leaves a bad taste in buyers mouths and often will not even look at it
So, just how important is the asking price when selling a house in Minneapolis St Paul Minnesota ?
It’s very important time to sell you house in Minneapolis St Paul. 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 cash offer from us!