When it comes to selling your home, the most crucial thing is to price it right. You don’t want to overprice the house since after the first two to three weeks of showings, the home’s appeal will have faded. After around 21 days, demand and interest will begin to diminish.
Consider Hiring A Realtor
Dealing with a Realtor ensures that you are working with an expert who is familiar with the area in which you are selling your property as well as how homes are priced in that area. Realtors research the local market to determine which locations are hot for sellers and which areas are excellent for buyers. They can do all of the legwork for you and are familiar with the parameters to use when analyzing the market, the comparables, the competition, and the overall marketablity of your home.
Try Not to Make it Personal
We all have the tendency to overestimate the value of our homes. You’ve been there for a long time. Your house is where your heart and soul are. It was there that your blood, sweat, and tears were shed. Now is the moment to examine the facts and remove emotion from the equation.
Become Familiar with the Competition
Put yourself in a buyer’s shoes and “shop” for a home matching a similar description to yours. What stands out to you? Would you pay more or less for your home compared to similar homes in your area? Why? Keeping an open mind on how your house compares to the competition will help you narrow in on the right price for your home.
Pay Attention to the Data
The comps don’t lie. When doing a comparable marketing analysis of your home, get as specific as you can in the details. Age of home matters, specific neighborhood matters, style of home, and size all matter. Pay attention not only to sold homes, but to withdrawn and expired listings as well.
Consider Hiring an Appraiser
There’s nothing wrong with spending money on a pre-listing evaluation. If you live in a region where comps are scarce, this is an excellent alternative. In addition, if anyone doubts how you priced your home, you now have a powerful weapon.
