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How to price your home right

As you start the process of selling a house, one of the biggest steps you need to take is setting the price. The challenging is getting it just right.

Sell your house for too much and it might have a hard time getting any offers, no matter how immaculate the property is. If you sell it for a low price, you might not make any profit at all, unless there is an exceptionally high demand for homes in the area. This situation can trigger a bidding war that can then drive the sale price up.

For now, let’s focus on normal circumstances. How can you arrive at the best sale price for your home? Here are a couple of ways how.

  1. Work with a qualified listing agent

    Selling your home on your own is completely doable with the amount of resources available online, but nothing can beat having a professional and expert listing agent by your side, especially if it’s your first time to sell a home.

    Your agent will work alongside you to ensure the outcome of the transaction is aligned with your real estate goals. They’ll help you price your home competitively, make sure the property is prepared for the sale, and negotiate for a favorable deal, among other things.

  2. Ask your agent for a comparative market analysis

    Another way to make sure your home can compete with similar properties in the market is through a comparative market analysis (CMA), which your agent can prepare. It provides a detailed look at homes that that were recently sold in your area. These properties can be similar to yours in terms of size, age, features, or a combination of different aspects.

    Through the CMA, you’ll know how long these properties were on the market and their final sales prices. You can use this data to set a realistic price for your home.

  3. Look at active listings in your neighborhood

    Recently sold properties aren’t the only comps you can use to determine the right price for your home. Use our website to conduct a Houston County, GA property search and take a look at active listings that are similar to yours.

    This information will let you know what your competition is doing. Moreover, it helps your property avoid being lumped together with their competition because they are all priced the same. Use the information to find a price that’s close to your competition so that when buyers search by price, your property stand out.

  4. Check out expired Listings

    Aside from active listings and recently sold properties, take the time to read expired listings as well. You can easily pull up withdrawn real estate listings in Warner Robins, GA using our property search tool. Looking at expired listings will provide you with some insight as to where other sellers went wrong, thereby helping you avoid the same mistakes.

    Find out if these listings were relisted after they expired or were withdrawn. Add the days on the market from the new and old listing to determine the total number of days they spent on the market. See if you can pinpoint common factors, such as the real estate agent or brokerage they used. It also helps to take note of the original list price.

  1. Consider current market conditions

    There are several market factors you should consider when pricing your home. One such factor is the season. Spring is generally considered the best time to sell a home. Fall is the second best. Winter is generally slow due to holidays.

    You also need to identify if the market currently favors buyers or sellers. Too much supply and not enough demand indicates a buyer’s market. Meanwhile, in a seller’s market, the housing stock is not enough to meet the demand.  The latter is widely accepted to be favorable for sellers as you can sell your home for more given the low supply of homes.

  2. Adjust the price if necessary

    Sometimes, even with proper research, you might find that you’re not getting. If that’s the case, don’t be afraid to reduce the price of your home. More than half of all sellers reduce their asking price at least once.

    The longer your home sits on the market, the less likely it will be to garner any interest. When buyers see a listing that has been active for a long time, they start to wonder what might be wrong with it. The quicker you act, the better.

Sell your home with us!

We can help you sell you your home for the right price. Contact us today to get started.