In the event that you’re contemplating selling your home in the 30309 zip code (or anywhere else in Georgia), one of the first things you’ll consider is the asking price for your home. How much should you ask for the house when you sell it? Before anything else, there’s one question you should know the answer to: How important is the asking price when it comes to selling a house in Atlanta Georgia? In this blog post, we’ll answer this question in order to better prepare you for the sale of your home…
In order to sell your home, you must first establish an asking price. Of course, the majority of people are aware that this is rarely the selling price – so why bother setting an asking price in the first place? When it comes to selling a house in Atlanta, Georgia, how important is the asking price?
An asking price is actually a very useful “tool” that can be used to accomplish three different tasks.
First and foremost, it attracts certain buyers while simultaneously repelling certain buyers.
Every price point on the spectrum has a buyer at every price point. A higher price will attract higher-end buyers (while simultaneously repelling lower-end buyers), and a lower price will attract lower-price buyers (while simultaneously attracting higher-price buyers) (while it repels high-end buyers).
After all, you don’t want to waste your time attempting to sell your home to someone who isn’t interested in purchasing it in the first place. It is therefore possible to use a reasonable asking price to encourage qualified buyers to consider your home as a desirable purchase.
Second, it provides information to prospective buyers.
Potential buyers will gain insight into your home’s value by comparing it to similar homes in the area. For example, if you live in a neighborhood where the average sale price is $100,000 and you’re asking $75,000 for your home, what does that communicate to potential buyers? It implies that your home may require some repairs or that you are in a hurry to sell. And what happens if you live in the same neighborhood but ask for $125,000 instead of $125,000? Because of the way you’ve decorated your home, it might claim that your home is superior to the other homes nearby.
Third, it serves as the starting point for any negotiations that may take place.
It’s extremely rare for a home to sell for the exact amount that was advertised. All real estate transactions are a result of negotiations between the sellers and the buyers (and the agents that might represent them). The asking price is simply a piece of information that is placed on the table for negotiation to begin with. Depending on your position as a seller, you may decide on a price and then work toward increasing it, while your competitors may decide on a price and then work toward decreasing it.
When it comes to selling a house in Atlanta, Georgia, how important is the asking price really to the process?
It is extremely important to assist in the sale of a house. However, it is not the only method of selling! It’s possible to get cash for your house if you’re not sure what to ask for it or if you’d prefer to skip the whole sales process altogether. Contact us today for more information.