Seller School - Pricing Your Home
When it comes time to sell your home, the pricing and preparation are just as important, if not more important, than the marketing itself. When it comes to pricing your home, your agent should do a thorough analysis of the comparables in your neighborhood to determine market value. It is important to price your home correctly right off the bat to avoid it sitting on the market. Homes priced too high tend to sit and eventually sell for a lower purchase price.
When preparing your analysis, an agent will look at similar homes in your area that have recently sold, are currently listed, or were withdrawn from the market without selling to determine what your home may sell for in today’s market.
Your agent will likely use properties that have similar:
- Bedroom Count
- Bathroom Count
They will consider what makes your home unique from other properties including features, upgrades, location, etc as well as qualities that may make it less desirable when compared to other homes.
All this information is used to properly price your home when listed. Pricing is key when listing, and we want to insure it is done well off the bat. Pricing your home too high could lead to extended time on the market and ultimately lower offers since buyers will begin to question if something is wrong with it.
This is a crucial step as a well-priced home will attract more buyers and sell quicker.