How to Know You’ve Set the Right List Price on Your Ottawa Home

15 01 2014

Ottawa home sellingOttawa Home List Prices

Determining the list price on your Ottawa home for sale may be one of the most critical decisions you can make as a home seller.

After all, this price may in fact determine how much success you have on the market. Set it too high, and you risk scaring away potential home buyers. But set it too low and you’ll lose out on your hard-earned equity.

Today, I’m going to tell you how to strike a balance between the two.

Ottawa Homes for Sale

Here are the positive benefits of setting the right list price on your home in Ottawa:

  • You sell your home quicker and with less effort on your part
  • Your home gets plenty of showings (read: exposure)
  • You sell your home before it starts to languish on the Ottawa real estate market.
  • Your sales price is almost the same as your asking price

To ensure that this is your experience on the market, you should take certain steps.

For instance, don’t overestimate the value of your home based on upgrades. While these are nice, they’re not adding as much value as you think. Also, don’t try to compensate for the original purchase price of your home by setting your list price too high.

In the end, you won’t recoup the losses. Instead, you’ll just make it harder for you as home seller.

Finally, don’t believe the idea that you need to give yourself some negotiation room. A well-priced home will sell on its own. You don’t need to over-anticipate what the buyer is going to do by calculating in some negotiation room.

Risks of Overpricing Your Home

If you overprice your home, you risk a number of things, including:

  • Missing buyers who are searching in your home’s price range because you’ve priced your home out of that bracket
  • Not receiving an offer on your in the first couple of weeks, which is a critical time period. This may result in your home languishing on the market.
  • Ultimately being forced to settle on a price reduction because your home still hasn’t sold. And trust us, a “Recently Reduced” alert is not nearly as alluring as a “New Listing” alert.
  • Helping your neighbors (ie, your competition) to sell their homes before you sell yours because your over-priced home makes their homes for sale look like a real bargain!

List Your Ottawa Home With Us!

Pricing your home right is definitely an art, not a science. That’s why it behooves you to work with an experienced Ottawa real estate expert like us.

So contact us today to discover how we can help you get the outcome you want on the local housing market as a seller.


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One response

17 08 2014
Ottawa Real Estate.ca

I love your section about the risks of overpricing your home. This is especially true if you are looking to sell as soon as possible.

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