Friday, March 9, 2018

How to List Your Home at The Right Price

Pricing can be a tricky component when selling your home. In order to sell quickly and to receive the most amount of money for your property, it is important to price your home correctly. However, listing for sale at too high of a price may limit your pool of potential buyers, and pricing your home too low can deter some buyers who may question the reasoning behind the low price and whether that is reflective of something wrong with the property.

So how do you find the “sweet spot” for the price at which to sell your home?

Enlist the help of a real estate professional.
The best way to make sure your home is placed on the market at a realistic and competitive price is to work with a real estate sales professional. The insight on the market that a real estate professional can provide is invaluable in many aspects of the home selling process, including their knowledge of what potential buyers are willing to pay for a property in your neighborhood.

Price Per Sq. Ft.
The cost per sq. ft. is often a good starting point for determining your home's cost. It should never be the only factor in your home’s listing price, but can help your agent get an idea of what your home is worth in your market. Your home’s layout is also taken into consideration.

Competitive Market Analysis
A competitive market analysis is a major factor in determining the sale price at which your home will be listed. This analysis looks at three factors: the homes currently for sale in your area, homes that previously sold in your area, and homes that are not selling in your area. Each facet is a great indicator of what prices are and aren’t working. Your real estate sales professional will have a database of resources to help research these factors.

Market Conditions
Your agent will also look at current market conditions. This is where the expertise of your real estate professional will shine. Real estate agents are trained professionals working in real estate every day. They can tell you if your home is in a “hot” area, how long you might expect your home to be on the market, and whether homes are for sale by owner or if the properties are an agent listing.

A competitively priced listing, along with the assistance of a trained real estate sales professional, will help to ensure that you get the most potential offers for the sale of your home.

Interested in selling your home? Reach out to a HUNT sales professional today.