Setting the Right Listing Price
When it’s time to sell your home, coming to an agreement with your REALTOR® on what your listing price should be is one of the first major decisions you will need to make.
Your REALTOR® will provide you with a market analysis showing what other homes are currently listed for in your area, as well as recent home sales… how long those homes were on the market… and how their final sales prices compared to what they were asking.
Understanding current market conditions is key to making appropriate pricing decisions since this data can help you learn from other sellers’ mistakes.
Also… consider the price ranges used by popular real estate websites. If buyers are searching in set ranges, pricing your home just slightly above one of those ranges could lead to it not appearing in as many online searches.
Keep in mind… almost two-thirds of sellers end up having to lower their price at least once. The key is to pay attention to the market and to make price adjustments as quickly as possible if you find that your home is overpriced.