• August 23, 2018

Finding the Right Price


Finding the Right Price

One of the most significant challenges people face when selling a property comes from finding the most optimal price that will be the greatest chance of success. The added unpredictability of the real estate market can often make numbers fuzzier than they need to be. Taking the selling process one step at a time can be useful to assist you in simplifying the selling process.  Depending on how quickly you’re looking to sell; prices can change as well. The first step you should consider taking is to ask your real estate agent for a CMA. CMAs are used to provide comps for sellers looking into finding a reasonable price to place on their properties. Yes, doing research online can also help you get a rough idea on how much a property like yours will go for, but it’s also important to keep in mind the information online is not always entirely up to date.

Get your Home Appraised

It may be worth your time, to consider hiring an appraiser. Appraisers can help give you an idea of how much properties of similar values are going for currently. If you are looking to compare and contrast, there are a few general rules to keep in mind. For one, you should ensure that comparable properties should be from ¼ to ½ of a mile from your home. Another similar trait is the age of the home your comparing yours too. Is your home roughly around the same age as the one you are comparing it to? If not, then it’s probably not a good idea to use that home’s history as a research tool.

Learn from Expired Listings

Studying expired listings is one of the most useful and overlooked tactics to help determine a price point. After you find comparable properties that didn’t sell, finding the right price is as simple as finding out the reason they didn’t sell. Often people fail to sell simply because they aren’t always realistic about their price when they put their homes up for sale. If you are unsure of the mistakes previous sellers have made, don’t be afraid to ask your real estate agent for advice.

Think Like a Buyer

If you want to sell quickly at a good price, it is important that your frame of mind is the same as the people you are trying to sell to. Put yourself in the buyer’s shoes and consider what they might be looking for in their search for a house. This kind of thinking also ties into your price point. Before you finalize your price, you should be asking yourself whether your price is realistic for the property you are offering. An outside opinion for this portion of the selling process is highly recommended. Real estate agents can help you with stage by giving an accurate estimate based on your location and the selling history of the area. Estimating by yourself comes with the risk of posting unnecessarily high prices, no matter how much online research you may have done. It is very common for sellers to overestimate how much their homes may be worth. This is because part of being a seller comes with its own internal bias that can affect your decision making. To combat this, seek outside from opinions from real agents.

Stress is one of the largest concerns when selling a home. Staging, managing finances and documents, and simultaneously juggling the rest of your life can be completely draining. However, one thing is certain about selling your home: it’s a lot easier when you have a solid real estate agent to handle it. Remember, No-One Works Harder to Sell your Home more than Joe! Contact Joe today by calling 813-908-7293 or visit https://josephlewkowicz.com/