When selling your country home in Colorado, it’s easy to fixate on the listing price. After all, it’s one of the first things buyers use to sort properties when browsing homes for sale in the area. However, it’s important to remember that a listing price is just a tool – one that your broker uses strategically to generate interest and offers, but not necessarily an accurate representation of the final sale price.
It’s rare for a property to sell for the listing price. Sometimes it goes higher, sometimes it goes lower. That’s why it’s important to work with a good broker who will help you determine the market value of your home and set a listing price that allows your property to shine amongst other homes in that price range.
How Your Broker Determines the List Price of Your Country Home
Your broker should discuss what they think your home should sell for based on comparable sales data, recent activity on similar listings, and other active listings on the market and their number of days on the market. Once you have discussed the actual market value and have calculated what you will net AFTER closing costs and commissions, the listing price is simply a price designed to attract buyer activity to your property.
Once your home is listed, the activity level is critical to generating offers necessary to secure the price you okayed. If you’re getting no phone calls or showings, then chances are that your listing price is out of the ballpark. On the other hand, if you’re getting a fair number of showings but no offers, your listing price may be in the ballpark but not quite in the strike zone.
Leaving too much room for negotiations leads to listings stagnating and encourages low-ball offers or no offers. Therefore, you should choose a listing price for your country home that’s as close as possible to the market value. Setting a competitive price creates a sense of urgency and encourages activity, putting pressure on serious buyers to make better and more timely offers.
Remember This When You List Your House For Sale
Of course, every property is unique, so it’s critical to work with your broker to determine the best listing price for your country home. But always remember that a listing price is just a tool, and the actual market activity from buyers in the current real estate market is the absolute best way to gauge the accuracy of the listing price.
Our goal at United Country Real Estate Western Land & Lifestyle Properties is to sell your home for the best price possible, and a strategic listing price can help you achieve that. So, don’t get too caught up on the listing price. Focus on working with your broker to create a sense of urgency and encourage activity, and you might end up with a full-price offer or even an offer over the asking price.