How To Determine The Right List Price For Your Home

by Leon on November 7, 2013

how to decide on your list priceAlthough the real estate market is certainly more stable than it’s been over the past several years, it’s still pretty tough. So if you happen to be someone who is thinking about putting your house on the market, it’s going to require some savvy and know-how in order to get your house to move fast and for you to make a good profit. In the efforts to help you do both, one thing that you have to do is determine the right list price for your home.

If you’re not quite sure about what all of that entails, this is a great article for you to read because we actually have five things that we feel will assist you in coming to the right asking price for your home below:

Get your home appraised. You might think that your house is the best thing ever but when prospective buyers are walking through the rooms of your house, they are going to want to get more than your opinion. This is why it’s important to hire someone to come over and appraise your home. It will give you a factual estimate of what your house is actually worth.

Look at it from a “local” perspective. Even if you and someone you know have extremely similar houses, including the floor plans, if you both happen to live in different states you can’t really compare the value of the houses. That’s because each market varies from state to state. So as you’re looking to get a general idea of how the real estate market is doing in order to figure out what to charge for your own house, narrow it down to the areas where you live; that will offer you a more accurate assessment.

Consult with a couple of professionals. The reason why it’s a good idea to use a real estate agent to sell your house is because they are professionally trained to understand the market. However, even if you don’t hire a real estate company to sell your house, we still recommend that you consult with a couple of them. They can provide you with insight on the market conditions within your area along with what a reasonable asking price for your home should actually be.

Size up the competition. A tip that a realty company such as Darby Grimmet Realty might give you is that you should spend some times investigating the homes within your area that also might be up for sale, especially if there are new ones going up. That helps you to be prepared for the kind of competition that you might have which could also help you to factor in how to price your home in a way that is appealing to prospective buyers in spite of the other houses in your neighborhood or suburb.

Do some strategic pricing. Another helpful suggestion that can help your house to sell quickly is to do some strategic pricing. For instance, if the houses that are for sale in your area are dropping 2 percent each month and you want your home to sell in the next 4-6 months, you might want to lower your asking price by around 6 percent. Sure, you may lose a couple of dollars but it also significantly increases your chance of selling it quickly which makes it still a smart option to consider. For more information on deciding on the right listing price for your house, contact a real estate agent within your area.

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Silver Price November 16, 2013 at 3:00 pm

Selling a house involves more than just putting a house up for sale. In order to stand out among all of the houses for sale, you need to market your house to potential buyers, make sure your home listing is appealing, and eventually handle all of the necessary paperwork for selling a home. This is why it is important to work with a qualified real estate professional when placing your house for sale.

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