When it comes to selling your home, this is a decision that is extremely huge. One of the first big steps to take is coming to an agreement on what the actual list price should be, and learning how to do this can be a real challenge regardless of whether you’re working on your own or with an experienced real estate agent.
Here are five ways in which you can price your home to sell.
Learn from others mistakes
Take the time to learn from mistakes that other sellers have made. For instance, you will want to take a look at expired home listings from your specific area of residence in order to obtain insights on how to properly price your home to sell. From there, compare the original list prices of homes that recently sold in the same area with their final sale prices. Determine factors such as whether it took too many price cuts in order to finally achieve a sale and whether or not the home itself was actually overpriced to begin with.
Put yourself in their shoes
It’s also a good idea to take a moment and place yourself in the shoes of the buyer. It can be hard to put your emotional attachment to your own home aside for the time being; however, when it comes to selling the home, this is something that you will need to do in order to be successful. Take the time to look around at what all else is selling in your area of residence at around the same price and decide in an objective manner whether or not these same homes are worth more money or less money than your own home.
You can always lower the price
Keep in mind that you can always cut the price of your home after you officially list it. There are times that you may end up coming to the conclusion that you may have posted too high of a listing price for your home. Thankfully, seeing price cuts is something that is never unusual. According to statistics, approximately 60% of those who make the decision to sell their home end up changing their price at least one time. The most important factor is to quickly recognize that you have overpriced, then make a more accurate adjustment.
Beat your competition
Never allow your asking price to lump you in with any competition. Prices of home oftentimes will get bunched up whenever sellers attempt to price their homes in a more competitive manner. For instance, if four homes in your area of residence are priced between $274,000 and $276,000, while another set of homes in the same area start at the price of $290,000 and only increase from there, this means that you should take advantage of the price range that starts at $280,000.
Price for competition
Take the opportunity to price for online search ranges. This means that you should consider the actual price range for your home will end up falling onto a more popular online real estate website. It’s also important to keep in mind that many buyers have a specific price range that they either can afford or that they’re considering working with. This means that if you list your home higher than what a buyer is currently looking for, they likely will not end up seeing it; however, listing it for a lower price will cause it to show up in their search results.
Thank you for visiting the Weichert Realtors – Bev Young & Associates blog, a Grapevine realtor company that can help you find Grapevine homes for sale. If you are looking to buy or sell in the Grapevine area contact one of our realtors today!