If you are planning to sell your home and you are just learning the first steps, you will find many tips and selling guides over the Internet. You will soon know that the most important thing to think through is selecting the list price that will make you close a deal.
Not just any price will do. List price will either make or break your deal, so it is a must that you set the price cleverly. More often than not, homeowners set the price too high because of their emotional attachment to the house. This is quite normal but this will also discourage potential buyers to even look at your property.
If you price it low, you might have more buyers than you imagine however, you also miss out on cash and equity that you could have earned from it. In this article, I have combined the basic steps on how to price your home accordingly.
- Make a comparison sheet. Your house is not exactly the same as the house next door or the house a few blocks away. When you check for comparable features, you have to consider the age of the house, lot size, square footage, physical condition, number of beds and baths, neighborhood, and amenities. For obvious reasons, the bigger and more well-maintained property costs higher.
- Use current information and market condition. The price of your home six months ago may not be the same as of today. Real estate condition changes pretty quickly so your house could be worth more or less depending on the market.
- Use the actual sales price. There is a difference between the list price and the actual sales price. The actual sales price will allow you to see what the buyers are willing to pay for a property like yours.
- Use the Internet to your advantage. Check out your competition online, chat or talk to real estate agents who offer free services online, and join forums with like-minded people and home sellers. You will find that there are many home sellers like you and that you get to share your experiences and learn from theirs.