If you’re thinking about selling your condo in the 90638 zip code (or anywhere in California, one of the first things you’ll think about is selling price. How much should you sell the condo for? But there’s one question you should understand first, and that is: How important is the asking price when selling a condo in Orange County, CA? In this blog post, we’ll answer this question to help equip you when you sell your condo…
When you want to sell your condo, you set an asking price. Of course, most people know that this is rarely the selling price – so why set an asking price at all? Just how important is the asking price when selling a condo in Orange County, CA?
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 in the spectrum. A higher price will catch the attention of higher-end buyers (while it repels low-end buyers) and a lower price will attract the attention of lower-price buyers (while it repels high-end buyers).
There’s nothing wrong with this – after all, you don’t want to waste your time trying to sell your condo to someone who has no intention of buying. So the right asking price can be used to help the right buyers see your condo as a desirable purchase.
Second, It Reveals Information To Buyers
The price of your condo, in comparison to similar condos, 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 condo may need some work or that 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 upgraded it.
Third, It Is The Starting Point Of Negotiations
It’s very rare for a condo to sell at exactly the asking price. All property 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 condo in Orange County, CA?
It’s very important to help a condo sell. But it’s not the only way to sell! If you’re not sure what your asking price should be, or if you’d like to skip the sales process altogether, you can get a cash offer from us!