Pricing your home is both an art and a science. Achieving the optimal price is the result of both objective research into comparable properties and a gut feeling about your property and the current market.

 

The Right Price Should

  • Attract Buyers

  • Allow you to earn the most money possible

  • Help you sell as quickly as possible

The simple fact is, price is the number one factor that most homebuyers use to determine which homes they want to view. And it’s important to remember that, although the price is set by you, the value of the home is determined by the buyer. Try to avoid allowing your enthusiasm to impact your better judgment – overpricing is a common mistake that can cost you in the end.


Common Reasons For Overpricing

Over-improvement - Need -Purchasing in Higher-Priced Area - Original Purchase Price Too High - Lack of Factual Data - Bargaining Room - Move Isn't Necessary - Assessed Value - Emotional Attachment - Opinion of Family and Neighbors


Dangers of Overpricing

  • Most of the activity on your home will occur in the first few weeks. Pricing a home properly and then creating immediate urgency in the minds of agents and buyers is critical.

  • Buyers who have seen most available homes in their price range are waiting for the “right house” to come on the market. That’s why if a house is priced right, it will sell quickly. The buyers are there waiting for it.

  • Don’t start with a high price and the assumption that you can reduce it later. By the time you decide to lower the price, it may be too late, as interest will have alreadywaned.

  • A major cause for concern is appraisal problems; overpricing can lead to loan rejections and lost time.

  • Even if your home is nicer than other homes in the same area, your house won’t be picked for viewing if you set the price too high.

  • Buyers and agents become aware of the long exposure period and often are hesitant to make an offer because they fear something is wrong with the property.

  • You could potentially attract buyers who cannot, or are unwilling to meet your needs as a seller making the closing process more complicated.

  • Fewer potentially qualified buyers will respond.

  • You might help sell similar homes that are priced low.

  • You could lose money as a result of making extra mortgage payments while incurring taxes, insurance and unplanned maintenance costs.


How We Can Help

Pineapple Homes’ name is synonymous with the Hawaiian real estate market, where our well-established reputation, unmatched marketing knowledge, and innovative ideas have made us a frontrunner in the Aloha State’s residential real estate industry. We have built a team of real estate professionals with a focus on client concierge and attention to our clients’ every detail, which has continued to expand a large base of referral and repeat clients.

  • Before you decide which projects and repairs to take on, connect with

    a real estate professional. They have first-hand experience with

    today’s buyers, what they expect, and what you need to do to make sure you house shows to its fullest potential.

    An agent can use their expertise to help you make the best

    decisions possible for your local market.

  • It’s important to understand your agent’s role in bringing you buyers. Real estate professionals have an assortment of tools at their disposal, such as social media followers, agency resources, and the multiple listing service (MLS) to ensure your house is viewed by the most potential buyers possible.

  • Today, more disclousres and regulations are mandatory when selling

    a home. A real estate professional knows exactly what needs to happen, what all the paperwork means, and how to work through it efficiently. They’ll help you review the documents and avoid any costly missteps that can occur if you try to handle it on your own.

  • If you sell without a professional, you’ll also be soley responsible for the negotiations. That means you’ll have to coordinate with:

    The Buyer: who wants the best deal possible

    The Buyer’s Agent: who will use their expertise to advocate for the buyer

    The Inspection Company: which works for the buyer and will

    almost always find concerns with the house

    The Appraiser: who assesses the property’s value to protect the

  • Real estate professionals know the ins and outs of pricing a home accurately and competitively. They compare your house to recently sold homes in your area and assess the current condition of your home. These factors are key to making sure it’s priced to move quickly while still getting you the highest final sales price possible.

    There is no “exact price” for real estate and we don’t tell you what we think your home is “worth”. The market determines value…together we determine the price.