If you’re thinking about selling your house in the Washington, DC area, one of the first things you’ll think about is selling price. At what price should you list and for how much should you sell the house? But there’s one question you should understand first, and that is – How important is the asking price when selling a house in the Washington, DC area? In this blog post and video, we’ll answer this question to help equip you to sell your house.
When you want to sell your house, you set an asking price. Of course, most people know asking price is rarely the selling price, so why set an asking price at all? Just how important is the asking price when selling a house in the Washington, DC area?
First, It Attracts Certain Buyers And It Repels Certain Buyers
There are buyers at every price point in the spectrum. A higher price will catch the attention of higher end buyers while it repels low-end buyers. Consequently, a lower price will attract the attention of lower-price buyers while it repels high-end buyers.
There’s nothing wrong with this tactic. After all, you don’t want to waste your time trying to sell your house to someone who has no intention of buying. So the right asking price can be used to help the right buyers see your house as a desirable purchase.
Second, It Reveals Information To Buyers
The price of your house, in comparison to similar houses, will reveal information to potential buyers. For example, if you live in a neighborhood where the average sale price is $200,000, and you’re asking $150,000, what does that say to buyers? It says that your house may need some work or you’re in a hurry to sell. And what if you live in that same neighborhood but ask $250,000? It might say that your house is superior to the other houses because of how you’ve renovated or decorated it.
Third, It Is The Starting Point Of Negotiations
It’s very rare for a house to sell at exactly the asking price. All home sales are negotiations between the sellers and the buyers (and the agents who might represent them). The asking price simply puts a piece of information out there from which negotiations begin. As a seller, you might put out the price and then work on getting a higher price while your buyers start with that price but work on getting a lower price.
So, just how important is the asking price when selling a house in the Washington, DC area?
It’s very important to help a house sell. But it’s not the only way to sell. If you’re not sure what your asking price should be, or if you’d like to skip the sales process altogether, you can get a fair cash offer from Express Homebuyers. Sell your house fast. Start by calling us today at (877) 804-5252.