For Sale By Owner Pricing Dangers For Staten Island NY Sellers

Sellers normally evaluate listing a property on their own with the sole intention of saving money. Experience has proven that it may actually result in less savings than hoped,... for sale by owner pricing dangers for Staten Island NY sellers. Below are a few things for sellers to consider before deciding sell their own home. Proper Pricing The real estate market is continually changing. Pricing can impact market time, what price it sells for in the end, and whether it sells at all. Real estate professionals have the knowledge and experience to help homeowners with listing price based on the particular property, location, and desired timeline, and to adapt pricing as necessary for fluctuating market conditions. Property Comparisons It all starts with picking comparable listings. Sellers generally commit several errors at this step. 1. Considering the value of homes in the neighborhood from years past. 2. Referring to the value of their own home from a previous market analysis. 3. Selecting varying styles or types of homes (i.e. comparing a ranch to a colonial). 4. Pulling up active listings that are incorrectly priced or not moving. Referencing incorrect listings for comparison will result in incorrect values and typically overpricing. Adjustments to Value Another aspect of pricing is applying adjustments for varying amenities. It is nearly impossible to come acorss two identical listings, so changes are generally calculated for interior space, amount of land, and features such as garages, bathrooms, fireplaces, condition, and upgrades. Sellers tend to reference the price spent on upgrades. However, the market value of most repairs do not often match the price paid for them. In fact, some expenses will not add any value. Real estate brokers are educated on what appraisers may calculate for adjustments and will calculate those accordingly for pricing. For Sale By Owner Pricing Dangers For Staten Island NY Sellers Incorrectly priced homes can cost sellers considerable energy and money. Listings may sit on the market with no activity or with interest from buyers that are strictly wondering why the price is so high. additionally, buyers have a negative view on properties that have been marketed for extended time frames and are likely to pay less even if the price is later reduced. In a declining market, a home can naturally drop in value by the time it actually sells. All of this leads a for sale by owner home to go for significantly less than it may have with the proper help of a real estate professional. That expense can be higher than what a seller estimated to save by doing it alone. This For Sale By Owner Pricing Dangers For Staten Island NY Sellers information was published by Gregory Diaz and Gina Guerriero at S.I. Premiere Properties.