If you’re thinking about selling your house in the 75142 zip code (or anywhere in TX, one of the first things that comes to mind is the selling price. How much should you sell the house for? But just because you’re thinking about it, is it really that big of a deal? So, how important is the asking price when selling a house in Dallas / Fort Worth TX? In this blog post, we’ll give you some things to consider and hopefully better equip you when it comes time to sell your house…
When you’re ready to sell your house, typically the first order of business is setting an asking price. Of course, most people know that this is rarely the actual selling price – so why set an asking price at all? Just how important is the asking price when selling a house in Dallas / Fort Worth TX?
The asking price is actually a very useful “tool” that does 3 things for you. Here it goes!
First, It Attracts Certain Buyers And It Repels Certain Buyers
There are buyers in the market that are at every price point in the spectrum. A higher price will catch the attention of higher end buyers (while it keeps away low-end buyers) and a lower price will attract the attention of lower-price buyers (and that repels high-end buyers).
There’s nothing wrong with this – after all, you don’t want to waste your time trying to sell your house to someone who has no intention of buying it. So the right asking price is key to helping 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 $100,000, and you’re asking $75,000, what does that say to buyers? It says that your house may need some work or potentially that you’re in a hurry to sell. And what if you live in that same neighborhood but ask $125,000? It might say that your house is superior to the other houses because of how you’ve updated it, maybe it has a swimming pool, or perhaps you’ve got an addition that other homes nearby don’t have.
Third, It Is The Starting Point Of Negotiations
It’s rare for a house to sell at exactly the asking price. All home sales are negotiations between the sellers and the buyers (with the assistance of the agents that represent them). The asking price simply puts a piece of information out there as a starting point for negotiations. As a seller, you might put out the price in the hopes of getting a higher price while your buyers are using that price to start with as they work on negotiating for a lower price.
So, how important is the asking price when selling a property in Dallas / Fort Worth TX?
The price is a very important aspect of selling your house. Just know that most sellers think their home is worth much more than it actually is. You will want to consider the features of the home, the location in proximity to schools, shopping, entertainment, etc, have any recent updates been made to the home, does the home need a lot of repairs, and how quickly are you needing to sell your home?
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 cash offer from us! And because we pay with cash, we have the ability to close in as little as seven days!