Tellico Lake is a beautiful place to live. While I can’t imagine why you’d ever want to leave this slice of Tennessee heaven, life happens. Are you considering selling your Tellico Lake home? It’s a great time to do it. With interest rates climbing and mortgage applications plummeting like a stone through Tellico Lake, this spring might be the best time to sell your Tellico Lake home. So what’s the strategy to sell your Tellico Lake home for the highest price?
If you watch reality real estate shows, they’ll tell you to “list high; you can always come down,” and this is some of the worst advice a seller could ever hear, yet, so many follow it.
Here’s what you need to know to sell your Tellico Lake home for the highest price.
What Direction is the Market Moving?
To sell your Tellico Lake home for the highest price, you have to know what is happening in the real estate market.
Understanding the real estate market in any area is a skill as real estate sales are hyper-local.
You need all the information you can get about what’s going on around your home that you won’t find online.
Why did the house down the street sell for that price? Did the seller have to give any buyer concessions? How many offers did the seller receive? Was it in and out of escrow, and if so, why?
Without knowing the answers to these questions, making an informed decision is difficult and expensive.
All of the data you’ll ever need about selling your Tellico Lake home for the highest price is available through an experienced and local Realtor, the Tellico Lake Home Team.
An Initial Listing Price That Screams “VALUE!”
When I go to a listing appointment, once we get finished with the walk-through of the home, the initial listing price conversation is front and center. What to understand about the listing price is it’s just a starting point. It’s where we begin, not where we want to go.
Home sales in our current market do not sell for the initial price the seller chooses. Most homes sell for either higher or lower than the initial listing price, and this may seem odd to those who don’t sell homes for a living, but it’s very common. That is why it’s called the initial listing price and not the sales price.
What Is a Value Initial Listing Price?
Pricing a home to sell with the idea that you can always come down if it doesn’t sell is flawed thinking. You don’t want to give room to go down in price; you want the room to go up.
If your home stays on the market too long, buyers think there is something wrong with it. Any home that is on the market longer than three weeks gets stale and is one of two things 1) In disrepair or 2) has an unreasonable seller. These are not preferred perceptions when selling a home.
Multiple offers from highly qualified buyers is the goal, and getting them is an art. Pricing your home slightly below where other homes are currently priced and sold is the way to get multiple offers.
The only people who are disappointed are buyers agents who know they have to compete with other buyers to win the house. I don’t know about you, but I’m ok with that!
Are you considering selling your Tellico Lake home this spring? If so, please don’t hesitate to contact me. I’ve been selling homes in the region for years and can help you get it done right. Please click here for my contact page.
Thanks for stopping by!