HOW TO PRICE YOUR HOME FOR SALE IN A BUYER'S MARKET IN AUSTIN, TX?

How do you price your home for sale in this shifting real estate market? We’re unpacking that for you right now.

Hey everyone, if you’re looking to sell your home and not sure how to price your home correctly in today’s shifting real estate market, we’re going to cover some of the top things you need to know to price your home correction. And just really quick my name is Xochitl Cervantes with RockStone Real Estate Group here in Austin, TX, and if you are thinking of selling your home, give me a call, text, or email, and let's chat. 

The real estate market is shifting, and it's important to stay up-to-date on the latest trends to price your home effectively. The market is shifting back to a seller's market. There are still high mortgage rates that are making it difficult for buyers to afford homes. As a seller, you need to be aware of these trends and adjust your pricing strategy. 

One important tip to keep in mind is to avoid overpricing your home. While you may want to set a high price to maximize your profit, this can actually backfire and result in your home sitting on the market for a long time. And buyers will not even look at an overpriced home, and you may end up having to lower the price anyway. Instead, it's better to underprice your home a little to create a bidding or auction effect. This can drive up the price and result in multiple offers, which can lead to a higher sale price. 

Now you don't want to underprice your home too much. You don't want to leave money on the table, so finding the right balance is key. The second factor to consider when pricing your home is affordability. With high mortgage rates, many buyers are struggling to afford homes. As a seller, plan to give credits to help buyers buy down their interest rates and make buying your home easier. 

The third item to look at is other homes on the market that are like yours and how much they are selling for. This is your competition.  This will give you an idea of what buyers are willing to pay and how your home compares to others on the market. If there are a lot of homes for sale in your area, you may need to price your home lower to stand out and attract buyers. 

Finally, it's best to have a real estate professional run pricing for you. Of course you can try to figure it out from Zillow. But Zillow is often inaccurate. They even underpriced the founder of Zillow's home by $500,000! Here's where you can bring me in to look at all the components that go into pricing your home. We can then craft a pricing strategy that is relevant to what is happening today in the real estate market. We'll make sure we don't overprice your home so the home doesn't sell. And we'll avoid underpricing that could make you leave money on the table. 

If you’re thinking about selling your home this year and making a move, please just give me a call, text or email and we’ll come up with an exact pricing strategy for your home, and let me know what you think in the comments. And if you want to stay up to date on what’s happening in the Austin Real Estate Market, then subscribe to this channel and let’s connect.