How to Know When to Adjust Your Asking Price for Your Home
So, you've decided to put your home on the market. Congratulations! Selling a property can be a complicated and stressful process, but it can also be very exciting. One of the most important decisions you'll make with your agent during the selling process is setting the right asking price for your home.
The right asking price is crucial because it will determine how long your home sits on the market and whether or not you ultimately get your asking price. If you set your asking price too high, you might end up sitting on the market for months without any serious offers. On the other hand, if you set your asking price too low, you might end up leaving money on the table. So how do you know when to adjust your asking price? Keep reading to find out.
3 Signs that You Need to Adjust Your Asking Price
1. Your home has been on the market for longer than average without any offers
One of the biggest telltale signs that you need to adjust your asking price is if your home has been sitting on the market for months without any offers, especially if homes in your area are typically only on the market for a few weeks or less.
2. The houses that have recently sold in your neighborhood went for less than what you're asking
If comparable properties in your area or building have recently sold for prices that are lower than what you're asking, it's a sign that you may need to adjust downwards.
3. You're getting lowball offers
Receiving lowball offers is never fun, but it can be a sign that your current asking price isn't realistic. If you're consistently getting offers that are well below your asking price, it may be time to consider making a slight adjustment downwards.
Selling a home can be a tricky business, but if you pay attention to some key signs, you'll be able to decide when (and by how much) to adjust your asking price accordingly. By following the tips in this blog post, you'll be well on your way to success!
The alternative – ask a city sales agent. We can prepare you a list of recent sales in the area or your building in a matter of minutes and help you find the sweet spot. We proudly boast many Record Setting Sale prices across the city and would love to help you be our next Record Sale.
Ask for the sales team on 09 3030 601.