Selling Your Home? Don't Drop Your Asking Price

Sunday, October 14, 2018
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Later this year, I'll be taking a real estate sales course. It's a 75 hour course that prepares you for becoming a real estate sales agent. I've been looking for flexible ways to supplement my income, and real estate sales is the likely path for me. In preparation for the course, I've been researching the industry. If you currently have a house on the market, here's an argument for why you should think twice before dropping your asking price.

There are so many other alternatives to dropping your asking price such as investing in a home stager, re-assessing your marketing strategy, and more.

  • Buyers think ‘hmm… what’s wrong with that property?’ – By lowering the asking price, you are inviting scrutiny. People will look for problems when they view your home . They will want to discover the reason why it has dropped in value. So, by lowering your asking price, you are not inviting offers, your inviting criticism.
  • If you're not confident, why should the buyer be? If you reduce the asking price of your property, you are telling the buyer that you aren't confident in the home you are selling. You don’t believe it was worth the price you were asking for.
  • Buyers don’t buy based on price. Before viewing any properties, buyers develop a budget and they shop within it. They look for the most quality within the amount of money they have available. They don’t go bargain hunting for the cheapest house!

Don’t lower your asking price unless an experienced agent or company like 30A Real Estate advises you to do so. Otherwise, you run the risk of hindering the selling process.

You don’t have to drop your asking price to offer buyers greater value! Instead, try one of the following ways to add value without dropping the asking price:

1. Update your kitchen
Updating your kitchen is one of the best ways to boost the value of your property . You may need to spend a few thousand dollars, but you will definitely make it back, and more! Don’t spoil your upgrades by going for something too taste-specific. Keep it neutral.       
2. Add a home office
Working from home is becoming more and more popular. Most buyers are no looking for a space for their computer and their files when searching for a new home. A contemporary home office is a worthwhile investment. It may end up costing you to create the home office, but it will help your home sell faster and for a greater price.
3. Replace carpets
There is nothing more off-putting than worn and dirty carpets. They put a damper on your entire home. Instead, re-carpet the property with a neutral colored carpet that stands up well to high traffic  and staining.

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