Establishing The Correct Listing Price
You could price your home for any amount you think it is worth, but your house may not sell at that price. To make the most significant impact on potential buyers when first listing your home on the real estate market, it is essential not to overprice it. In other words, price it to the market. You can lower the price at any time, but you may miss out on a buyer before then.
If you under price your home, you may receive multiple bids. Sometimes this strategy in a hot market can drive up the price beyond the offered amount, but this is a gamble you may not want to make when you are selling your home.
Accurate pricing is partly a reflection of supply and demand.
Accurate pricing is also partly subjective. Some subjective factors that determine your home's value are as follows:
Desirability - Curb appeal, attractive front and back yards, room sizes, modern kitchen and appliances, multiple bathrooms, good working heating, and air conditioning unit, and turn-key condition are all desirability factors.
Location - Safe neighborhood, close to schools and library, nearby park, shopping areas, good restaurants and coffee shops, doctor's offices and medical facilities, and other amenities close to your home's location are important to potential buyers.
Accurate pricing is also partly objective and the main objective factor is Comparables. I will pull comparable listings and sales in the same neighborhood or area as your home, and prepare a comparative market analysis for the last three months. Usually, I will only compare recent home sales that are similar to yours in size, age, condition, and location.
In a rapidly changing market, I will also look at recent listings, too. Working together, we can come up with the right price to list your home.
If you want to increase the selling value of your home before listing it for sale, there are some inexpensive upgrades you can make:
Paint interior rooms in neutral colors
Replace any outdated lighting fixtures
Replace kitchen and bathroom faucets with modern styles
Replace cabinet handles and drawer pulls
Replace old or noisy garage door opener
Install an outlet with device charger slots in each room
Replace front door if it is old and not airtight
Put a nice lock set on the front door
Replace all toilet seats
Replace cracked or stained bathroom sink
Put new caulk in bathrooms
Have all carpets professionally cleaned
Getting the best sells price for your home is the objective. Working in partnership with me, an experienced real estate agent and making a few improvements will get you closer to your objective. Call or text me @ 919-308-2292 to get the process started.
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