PRICING YOUR HOME

When it comes to selling your home, our expert agents at Mave & Market believe that closing quickly and pocketing the highest price go hand in hand. Our goal is to work with you to achieve a quick sale as well as the bottom line you’d like.

"Our experienced Charleston Realtors will tell you that pricing your home appropriately at the time of initial listing is critical to getting it sold quickly and at the best price."

-Patrick Mahaney, Mave & Market, Broker

Interested in speaking with one of our Charleston Home Selling Specialists for your neighborhood? Simply fill out our Selling My Charleston Homecontact form or read more about pricing your home in Charleston.

The process begins with an extensive evaluation of your property and how it compares to similar sold properties in your neighborhood. We also consider the area’s current market conditions and trends before we offer advice on pricing your Charleston home. Your property will generate the most interest when it first hits the market, and if it’s priced below or at market value, it will generate the most showings. If the price starts out too high, you may miss the excitement and have to drop the price later, causing it to sell below market value.

Due to the increasing positive Charleston real estate market conditions, you may find yourself tempted to try listing your home at a higher price just to see if you can get it. Don't do it! Our Experienced Realtors will tell you that pricing your home appropriately at the time of initial listing is critical to getting it sold quickly and at the best price. Research shows that overpricing your home and then dropping the price several times while it languishes on the market usually leads to selling it at a much lower price than what you originally should have asked for it. The longer a home stays on the market, the deeper the discount is likely to be off the original price.

Many homeowners want to set their list price based on what they paid for their home, the balance of their mortgage, or on the profit they want to make so they can move into another home. In reality, your home is worth only what the market will bear. If you price your home too high, some potential buyers won’t want to look at it at all, while others will simply walk away without making an offer.

Your Mave & Market agent will work hard to get your home sold - and we start by helping you reach a seller’s state of mind. We've outlined the steps below.

THE PRICING CHECKLIST

When we sit down to review your home’s value following the market analysis, there are a few things to keep in mind. As an established local brokerage, we've sold hundreds of homes and learned a lot along the way. Listed below are some of our findings.

LISTEN TO AN EXPERT'S ADVICE ON PRICING

Frankly, most people think their home is worth more than it is. Whether the market is up or down, people have a tendency to overvalue their own possessions. The reason you probably bought the home to begin with is because you valued it more than anyone else. Consequently, the same holds true in today's market. The vast majority of buyers will not understand the justification of the higher price tag based on how you feel about the home. While you cherish the memories in your home, let your Mave & Market agent help you determine its value on the market.

If you’re interviewing several Charleston Realtors to choose a listing agent, you may be tempted to pick the sales professional who suggests the highest price for your property. But sellers, like buyers, need to beware. The Realtor who provides the best comparative market analysis and explanation of how your home should be priced will be more likely to sell your home quicker and for a higher price than someone who tells you only what you want to hear.

UNDERSTAND THAT ACTIVE LISTINGS ARE JUST THAT, LISTINGS

As you compare the competition, be aware that those current asking prices don’t yet indicate a sold home. While you should know surrounding listing prices, don't let them be the only factor in deciding your home's sales price. A full comparative market analysis should be performed. A comparative market analysis should include sales prices for similar nearby homes that sold in the last month or two. In addition, the Mave & Market team will include prices for homes currently on the market that will be your competition, as well as homes taken off the market because they didn’t sell. Additionally, our expert Realtors will suggest a listing price range based how many days homes were on the market at various price points and the average difference between the list prices and sale prices on homes that have sold.

SET THE RIGHT PRICE IN THE BEGINNING TO ADD TO YOUR BOTTOM LINE

The industry secret to selling a home for top dollar is to list the property at the right price from the start. Some sellers aren’t pressed for time, so they overprice their home and wait for buyers to bite, thereby thinking they can lower the price if it doesn't sell. Statistics have shown that this strategy results in a lower final sales price.

UNDERSTAND THE SEASONS

During late winter to early spring (late January to late February) the housing market starts to warm up, as families recover from the holidays and start looking to make a move.
Spring to early summer (March to May) is generally the best time to sell your home as parents need to buy within particular school districts in anticipation for enrollment in the next school year.
Summer (June to August) tends to see a slow down as people leave town for vacation trips.
Late summer to early fall (September to October) usually has a bit of a spike in sales activity as people come back from vacation and want to get into a home by the year’s end.
Once the winter holidays kick in, and the market settles in for the winter (November to January), the only buying most people consider are holiday gifts. While your competition is whittled down because other sellers do not want to deal with moving during the holidays, prices tend to be a little lower as buyers during this time are usually looking for a relative bargain.

REALIZE HOME UPGRADES ARE DEBATABLE

It is important to remember that your home’s special upgrades don’t automatically translate to a higher price tag. Your pool can be viewed as a maintenance expense, and your $10,000 custom shelving could possibly just get you a blink from buyers. Remember: These upgrades may not be special to the purchasing party.

THINK LIKE A BUYER

One of the most important mentalities to have when selling your home is that of a buyer. Buyers are comparing your home to everything else available at the time, so picture what would - and would not be - attractive about your listing. Your price should then reflect your findings.

AVOID SELLER'S REMORSE

Sometimes homes sell quickly. That's the goal, right? Well, even quick sales raise concern. If you end up with a quick sale, you might think you sold too low and find yourself having seller's remorse. Just remember - if you reviewed the comps and considered the advice of your agent when setting the price, and if you look at all the other aspects of the contract (e.g. perhaps you got the lease-back you wanted and thankfully the buyer didn't ask for costly repairs), chances are you didn't sell too low - you simply priced it right. Getting the sale done quickly will save you time (you won't have to prep for yet another showing!) and perhaps a quick sale will help you secure a contract (and a deal) on the home you've been eyeing. Don't fret over a quick sale if the total deal helped you meet your objectives.

Use our Charleston Home Value tool and get an idea of how much my Charleston home is worth. You can even see comparable properties around your home and get a complete Charleston market analysis!

ARE YOU READY TO SELL YOUR HOME IN CHARLESTON, SOUTH CAROLINA?

PLEASE FILL OUT THE FORM BELOW AND RECEIVE AN INSTANT COPY OF OUR COMPREHENSIVE CHARLESTON REAL ESTATE SELLERS GUIDE VIA EMAIL. ONE OF OUR QUALIFIED AGENTS WILL BE IN CONTACT TO HELP YOU GET STARTED ON LISTING YOUR HOME.