In a Cooling Market Setting the Right Price is Crucial for Sellers

Metro Denver is still considered a seller’s market; however, the frenzy has cooled a bit and with seasonal winter slowdowns, it’s imperative for sellers to price their home correctly to get the best return on investment.

For the past several years, sellers didn’t need to do much of anything to show their house. But as the climate changes in the Mile High City, now they must put their best foot forward straight out of the gate.

To help ensure your home is priced correctly you’ll want to work with an agent who know how to use the available tools to help set the price using:

• Days on market

• How many showings before a home goes under contract

• Pending sales

• Sales of similar properties and neighborhood properties

Also, don’t skimp on professional cleaners, photographers, and videographers. Staging your home is also something you might consider as potential buyers fall in love with a property online, and then confirm it in person. If the property is occupied, the stager works with their belongings and brings in fresh bedding, throw pillows, or artwork.

Another thing to be mindful of is inspections. Yes, they are back and it’s actually a good thing for both sellers and buyers. It takes the liability off the seller and ensures the buyer will be able to live somewhere without taking on lots of home repairs.

Changing market also encourages sellers to offer more incentives like cash to buy discount points at closing to lower interest rates, but they should be cautious of what offers or incentives they might provide. For example, some sellers may offer a bonus of $10,000 for a full-price offer, but if you do that you may end up with a buyer who comes in and wants both the buydown bonus and a price reduction. So from the very beginning set your price so it’s better than the other things on the market, then see what the buyer asks for and negotiate.

It’s true buyers now are presented with more options and less competition, but if you do the proper planning before listing your property you can help ensure you get the highest bid in a reasonable amount of time. If you’re considering selling this season, reach out to Metrowest – we’d love to discussyour options!