One of the questions we get asked MOST often is, ‘How do I know what price to list my house to attract the most buyers and to help minimize the days on market?’
If you’re listing a home this spring, one of the biggest considerations is your asking price. No two homes are exactly the same and pricing a home is both an art and a science. Price too low and you may be leaving money on the table; price too high and you may just be setting yourself up for a future price reduction.
So, what are some strategies for pricing your home?
Strategy #1: Work with a Real Estate Agent.
A Crockett Team Realtor can figure many different factors into the pricing of your home, including local market conditions and property improvements. They can also tell you whether you’re looking at a buyer’s or a seller’s market. Having the advice of a dedicated professional can make your transaction smooth, quick, and relatively painless.
Strategy #2: Leave Room for Negotiation
All parties want the best value. Have a price with some wiggle room for maneuvering on both sides of the transaction. Selling a home can be emotional, but now is a good time to stay realistic so that buyers don’t pass on your place. As a seller you have strong emotional ties to the home that potential buyers haven’t formed yet so you need to price according to the market and not your sentimental attachments.
Strategy #3: Get a Market Analysis
Use a current market analysis from your Crockett Team Realtor to get an idea of the pricing of your home. This detailed explanation will help you to understand how your home should be priced utilizing both existing and historical data. A market analysis, paired with current market conditions and property improvements will help determine the homes ideal listing price.
Strategy #4: Get Into the Buyers Mindset
Last but not least, get into the buyer mindset. What are the qualities you love in your own home? What sets your place apart from the others in your area? What information can you provide to the buyers to help make their decision to purchase your home easier? Working with your Realtor you can figure out how to best leverage the uniqueness of your home to get the best possible selling price.
Finding the “sweet spot” in pricing your home is a delicate balance. Using these tips, you’re sure to have a win-win for you and your buyer. If you’ve been thinking about listing your home, don’t forget to call The Crockett Team at (440) 974-7444 and work with one of our award-winning agents.
