Setting the right sales price is incredibly important before you list your property. You don’t want to price your home too low or too high. Today, we’ll go over how to set your price so you can net the most money for your home.
The first step is to hire an experienced real estate agent who will provide market comparables in your neighborhood. You can see what homes like yours are selling for in the current market.
When you evaluate those comparables, you should price your home somewhere right in the middle. We are in a seller’s market, and by pricing your home in the middle, you will generate a lot of competition, showings, and offers for your home. Since so many people will want to buy your home, that competition will drive your home to the highest price you can get. “Price your home right in the middle.” A lot of people are tempted to price their home based off the highest priced comparable. Some people even think that, since prices are rising, they can price over what the highest comparable sold for. If you do that, you will price yourself out of the market. When buyers do their searches using price ranges, they will not even see your home.
Ultimately, price your home appropriately. Don’t go too high and you will wind up being at the top of the market in your neighborhood.
If you have any questions, give us a call or send us an email. We would be happy to help you!