If you’re thinking about selling your house in the 38138 zip code or anywhere in TN or DeSoto County in Mississippi, one of the first things you’ll think about is your selling price. How much should you sell the house for? But there’s one question you should understand first, and that is: How important is the asking price when selling a house in the mid-South? In this blog post, we’ll answer this question to help equip you when you sell your house…
When you want to sell your house, you set 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 the Memphis area?
An asking price is actually a very useful “tool” that does 3 things for you.
First, It Attracts Certain Buyers And It Repels Certain Buyers
There are buyers at every price point of the spectrum. A higher price will catch the attention of higher end buyers (while it repels low-end buyers) and a lower price will of course do the opposite… repel 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, or simply cannot afford it, or would not be able to meet your asking price range. 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 $100,000, and you’re asking $75,000, 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 $125,000? It might say that your house is superior to the other houses because of how you’ve decorated it, or maybe that you have recently done renovations.
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 that might represent them). The asking price simply puts a piece of information out there for negotiations to begin from. As a seller, you might put out the price and then work on getting a higher price while your sellers start with that price but work on getting a lower price.
So, just how important is the asking price when selling a house in Memphis TN?
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, you can get a cash offer from us! At buyerhouse, our process looks like this: you give us a call or contact here on our site. We will then speak with you regarding the condition of your house and see if you have an asking price in mind, and schedule a quick walk-through, if possible. After that, our team will crunch the numbers to determine the best cash offer we can do for you! We buy in any condition, and you would not have to clean up or update or repair anything. We pride ourselves on being reliable, efficient, and helpful to our clients, and would love to see if we would be a good option for you, too!