Love Selling Your Home – Week 3
This is the fourth article in our series called, Love Selling Your Home: Minimize Your Stress, Maximize Your Profit, Dwell Residential’s step-by-step guide to selling your home “right” even in today’s robust market. Our series takes you through the entire home-selling process — from finding a real estate agent to settlement day. Look for a new, informative article each week, right here!
Selling your home can be an overwhelming and emotional experience. You need smart, straightforward strategies that will help you maximize your profits, maintain control, and reduce the stress that comes along with this process.Pricing your home “right” from the very beginning is a key way to accomplish all of this!
Every day your home sits on the market, it essentially loses value. You want to price your home perfectly to attract the right buyers. That means pricing it not too low that buyers are wondering what’s wrong with your property, but also not pricing it too high.
Here are our 10 best tips to make sure you price your home perfectly:
- Look at recent comparables or “comps.”
- What is a comparable? It’s a home that is similar in size, location, and condition.
- Only consider homes that have actually sold, not homes currently on the market.
- Be sure to look at not just the asking price, but the net price. Did it go up or down from the asking price? Did the seller pay closing costs? What was the net price?
- How is the comparable different than yours? Did it have a better or worse view; or a better or worse street? Be honest about the differences and how they would impact the price of your home.
- Look at only the most recent homes. Appraisers look as far back as 6 months to arrive at a value, so you should look at homes that have sold within the last six months as well. And, the more recent the better, especially if the market is rapidly changing.
- What you paid for your home a few years ago or what you could have gotten at one time is not relevant when pricing your home to sell today!
- You can’t count on getting every dollar you’ve spent on it. Unfortunately, sometimes what we like, not everyone likes.
- What’s the inventory now or in the next few months? If there is less inventory and more buyer demand, then you may be able to set your home’s price a bit higher.
- Speaking of timing, try to avoid putting your home on the market during a holiday weekend and/or the holidays at the end of the year. Homes always sell for less during these times.
Now that you know how to price your home, you will be ready for next week’s article, Marketing Your Home to Sell Quickly and Profitably. We’ve got a customized approach to marketing your home that gets the results you want by attracting buyers who mean business!
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