Pricing your home is easily one of the most important yet difficult points in the selling process. While you obviously want to make the most money possible, you also want your home to be appealing to buyers when compared to the local market in order to sell your home as efficiently as possible. You may find it difficult to come up with the appropriate price on your own, but there is a very simple strategy you can follow: compare with other homes! Below are critical points to note when comparing your home to others on the market.
When looking to compare the price of your home with others in the local market, you will be wise to start online. Given the vast amount of real estate sites which have popped up in recent years, it will be extremely easy to find similar homes in the area without spending too much time. These sites will allow you to adjust for factors like bedrooms, square footage, and price level, all of which will allow you to find a home which is nearly identical to yours.
Reach Out to Other Sellers
During the course of your search, you will likely find a home smaller than yours that is listed for an absurdly high price. You might assume that the seller is being greedy or does not truly know the value of their home, but is it important to reach out to these sellers and ask them to justify their pricing. The home may have expensive features which are not readily apparent or be situated in a higher end neighborhood. By understanding why others price their homes for certain amounts will allow you to make a more informed decision when selling your home on the market.
Consider the Outliers
If your home has outlier features which simply makes it better than other homes in the area, be sure to include this in the pricing. Outliers like this could include a swimming pool, recent renovations, or proximity to a great school district. On the other hand, if your home has less than desirable features compared to other home, such as a leaky roof, scared flooring, or damaged walls, it would be wise to lower to price so buyers will be not be scared away.
Consult with a Real Estate Agent
If after extensive research you are still unable to come up with a common sense price for your home, you may want to consider consulting with a real estate agent. Since you are looking to price your home based on other homes within the market, some real estate agents will be willing to provide you with prices of similar homes they have worked with in the past. While this is smart strategy, be sure that this information does not come with a price tag attached.
The most important aspect of pricing is confidence! While you may not know what your home is exactly worth, you can easily come up with a fair price after comparing it to other homes in the local market. Some buyers may be skeptical of your price, but confidence will be your biggest asset when looking to close the deal!
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/