These days it’s understandable that you think you can price your home solely using the internet as a guide. It has been proved that it takes a real estate professional to evaluate the data in the market and so you can use it to your best advantage. Understanding the surrounding area and current market conditions is a big part of an agent’s expertise.
Selecting the right price for your home is crucial to selling your home quickly and at the right price. If potential buyers think your property is overpriced, they are going to look elsewhere, leaving your home on the market too long. A house that sits on the market without any offers leaves buyers to speculate why it hasn’t sold and assume there is something wrong with it.
To the contrary, if you price the home too low, you are going to leave money on the table. In either outcome, a real estate agent can help you price your property correctly and make your sale as quickly and painlessly as possible. Here are the things to consider:
Sales History of the Area
Your agent will pull comparable listings and sales from your immediate neighborhood for a recent duration of time and compare the data. Other considerations include lot size and configuration, amenities and upgrades. Your agent will also compare final sales prices against original list prices based on square footage and days on the market.
Check Out Your Competition
Your agent will research pending sales in your neighborhood and how long these homes have been on the market. Remember that sellers asking prices can be whatever they like, so the prices you see might not reflect the final sale price. If you have time schedule a showing at some of the homes to compare or have your agent send you pictures from the mls.
Market Trends and Micro Trends
Your agent will consider the latest trends when setting the price for your home. National factors include possible rising interest rates. Local trends include, whether sales prices in your neighborhood have been rising or falling.
Be Aware of Your Surroundings
Your neighbors can impact your pricing if they do not upkeep their property. On the other hand, if they have great curb appeal, they can help sell your home. Everyone wants to be in a community and area where homeowners take care of their property.
Your agent will be invaluable to you during this process. Working with a reputable, experienced agent, like Mike Zubretsky, will make a big difference in your sales experience and how much money you keep in your pocket. Lean on your agent to set the right price for your home and navigate you thru this process.
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