How To Price Your Home To Sell

In addition to location and condition, the asking price of a home is at the top of the list of important considerations.  When a potential buyer is looking for a property, they want to get the best possible value for their money.  This doesn't mean that a home should be priced too low, but it does mean that knowing how to price your home is a must.

Find Out What The Real Value Is

Regardless of whether you are in a buyer's market or seller's market, it's important for every vendor to know the actual value of their home with the help of an appraisal.  With this information, you will be able to choose a listing price and a strategy on how to achieve the home's value.  At the same time, you will know how to react to various offers that a potential buyer may make.  If you can select a price that is affordable to a range of buyers, you may receive multiple offers thereby sparking a possible competition among the interested parties.

Drill Down Into The Factors Affecting Price

A combination of factors including  recent selling prices for comparable homes in the area known as “comps” will enable your estate agent to give you the best advice on what asking price to set.  Other important factors include the year of construction, the square footage, extensions to the property, interior and exterior upgrades and additional features that make the home unique. 

Set A Realistic Timetable

In researching the sale price for other comparable homes in the area, you should also note the anticipated length of time your home will be on the market.  Some homes practically sell overnight, while others may remain on the market for months without being sold.  If you want to sell your home quickly, you should consider this when setting a price.  A bargain will obviously move quicker, but it's important to make enough from the sale to feel good about your choice.  If you aren't in a hurry to close, talk with your estate agent about a fair starting price that's at or near the appraised value of your home.

Ask Your Estate Agent For Advice About Your Purchase Too

While you hold the key, so to speak, to your house's actual asking price, most sellers will ask their estate agent for their opinion about their own purchase as well.  After all, property is their business and they will be working with you through every step of the process on both property transactions.  Be sure to choose an estate agent that will advise you on both and give consideration to the advice they offer. 

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