Selling your home can be an exciting time, but there are a lot of factors to consider. Deciding what price you should list your home is one of the most crucial parts of the selling process that takes a lot of research and time invested to make sure it is the best price for the time.
At Holland Homes Sales, we want to help you every step of the way from the pricing process to the final sale. There’s no reason to tackle this alone, which is why we have a knowledgeable team ready to assist you.
Here are some tips to help you accurately price your home when ready to sell:
Competitive Market Analysis
One of the most important pieces in pricing your home to sell is analyzing the competitive market analysis (CMA). The CMA is the compilation of comparable homes that were sold near you in a specific time frame. A comparable home includes similar square footage, age of the home, neighbrohood and time period listed.
A reliable real estate agent can help you with this process by using their expertise to determine your home’s true value before selling. Accurately gathering this research will help your home’s pricing be desirable but still competitive.
The housing market is another important consideration in pricing your home to sell. There are many external factors that affect the housing market, which can have either positive or negative influence on your pricing.
The season you are selling plays a big part in what the housing market is like. Spring and summer are more popular times for potential buyers because of the weather and wanting to be settled in before children start school in the fall.
The simple concept of supply and demand determines if it’s the best time to sell as well. If there are multiple houses going up for sale in your area, it might be wise to hold off on listing your home. On the other hand, if you’re in a popular area and there aren’t a lot of for sale signs going up, it could be beneficial to list your home and even list it at a higher price.
The bottom line is to keep a close eye on the housing market when deciding what the best price is to list your home at.
Once you’ve decided on a competitive price, it is important to avoid odd price listings. People gravitate toward easily digestible numbers, so listing your home at a seemingly random number can make potential buyers question your ability to sell a home.
According to Money Talks News, zeros at the end of your pricing number can help your exposure for internet searches. Try making the number a whole number like $300,000 or $295,000 to allow for some wiggle room for possible negotiation.
Your home needs to be in top shape in order to stay competitive and get the most out of your asking price. Finishing unfinished spaces and updating outdated areas of your home are two simple ways to renovate your home and make it more desirable.
Making simple touch ups is also a great way to spice up your home’s attractiveness to potential buyers. Repairing old pipes or adding a fresh coat of paint to railing are easy ways to be able to price your home higher.
When setting a price to sell, there are additional costs to consider, including closing costs. Inspections, loan fees and other costs associated with closing on a house can add up, so it is advantageous to consider those costs when pricing your home.
Pricing your home to sell can be a complicated process if you’re doing it alone. At Holland Homes Sales, our intentional and genuine sales team wants to make the selling process as smooth as possible. Contact us today for information on how we can help you!