Price Your Home when you’re putting your home on the market, pricing it right is important to make sure you don’t miss out on any profit you could make. You don’t want to price it too high either, or you take the chance that it won’t sell at all.
Avoid Sticker Shock
Obviously, most people want to get the highest price possible for the sale of their home. But it’s important to come up with a realistic price too or chances are it won’t sell at all. For this reason, you can’t just pick an asking price that you’d like. There are a lot of factors that will make up the price that you ask for your home.
The Importance of Your Realtor
Talk to a handful of real estate agents before you choose one that will handle the sale of your home. Each realtor will have their own idea, based on the same information, of what you might be able to get for your home. And each will have their own method for making that happen. For example, some realtors favor the idea of hosting an open house and letting interested parties come through to get a look at the inside without setting up an official showing. Some real estate agents avoid hosting those, feeling it isn’t the best way to make a sale. You want a realtor who will listen to what you hope to make from the sale of your home but then honestly suggests a realistic price. Hopefully the two numbers aren’t very far apart.
Factors that Determine the Price
A lot of factors will determine the price you get for your house. Your real estate agent will be able to show you a list of some comparable homes and the average prices. That list will give you a good idea of what houses similar to yours are selling for. You can use the list as a helpful guideline. Your realtor can also look up past house prices sold and see what those homeowners were able to get.
When you sign a contract with a realtor you will agree on a set time that they have to sell your home. If you haven’t had an offer after a few weeks the realtor may suggest lowering your asking price. After each showing, you should ask for feedback so you know what families like and don’t like about your home. This will give you an opportunity to change any minor things that might help lock in a sale next time.
The real estate market is ever changing. Sometime the seller controls all of the details, but sometimes the buyers hold the power. Depending what your situation is, you may be more willing to accept a lower offer. For example, if you’ve already found something that you want to purchase, or you have already relocated for a new job, you will probably consider a lower offer just to speed things along..