Connect with us

Sell

How to price a house, so that it sells fast

house keys

Selling your home is a huge decision, and nothing can break your stride once you are set to make a move.

The strategy of pricing your home has certainly changed over the years. Success is determined by not falling victim to the wrong technique and ensuring that you consider all the factors when deciding the value of your place. If you wish to sell a house in 2018, knowing who your buyers are,  as well as what they are searching for in their next place, is critical

Your Not Gonna Fool Anyone

The buyers of today are market savvy. They have done their research and will not take it kindly when they are being toyed with when it comes to pricing. A house priced too high will tend to remain in the market without feasible offers, and the perceived value becomes lower the longer, the longer that house remains for sale.

If you want to sell your place fast, then follow the bullet points below.

  • What is your home worth
  • What is the lowest price you will accept
  • How much time will you allow yourself to sell
  • Will you sell your home yourself or hire a realtor
  • Allow yourself to sell

Selling Step 1

Determine the value of your home. Find the selling price of 3 or 4 comparables. If a realtor is selling your home, they should have access to all the data. Are you willing to let your house go for this amount? There is no fixed and set price for any home. You have to look at your house and compare it to a few similar houses sold. With this, you can get to a much better understanding of what your house could sell for. If you believe your house is worth more, you will have to have a plausible reason.

Remember that the value of your home is not set in stone. It is simply worth what someone is willing to pay. If you are selling the home on your own, you may have to pay to access the comparables. But it can be well worth it.

Selling Step 2

Determine your bottom line. Here you will need to find a balance between pricing it to sell quickly and getting the highest profit. It is important to note the hotter the market, the easier it is to sell quickly at a higher price. The demand for real estate varies from neighborhood to neighborhood, city to city, and even amongst adjacent subdivisions. To come up with the bottom line, there is a need for an understanding of the variables, from understanding the condition of the home, your current situation, and your neighborhood appeal. If you are in no rush to sell, listing your home at a higher price (but not too high) might be the best technique.

Selling Step 3

Understand your timeframe is dependent on your situation.  There are many reasons for a short timeframe: relocating to another city to start a new job, you can no longer afford the current home payments, or you are in the middle of a divorce. You may leave some money on the table, but time is money.

If you’re not in any rush, you may want to try and squeeze a few more dollars out of the buyer.

Selling Step 4

Choose the selling method that best meets your needs.  At this stage, you will get to understand the diverse ways to sell your home and decide the one that will work best for you.

For example, you might prefer to sell your home on your own, and many homeowners do so; it has an acronym FSBO (for sale by owner), or you are going to hire a realtor to assist you.

Selling Step 5

Prepare to sell: This last phase can also be known as the 3D step (Depersonalize, Declutter and Deep clean). To depersonalize your home, you have to pack all your photos, valuables and any other personal belongings. You want buyers to visualize the home as theirs.

You may have to hire a company to clean and declutter your home and get it staged for sale.

Advertisement

It is quite important to know that the market changes fast, so it is possible for your house which was bought at a high price might be sold lower.

Remember that if your going to upgrade your home, that for every dollar you put into it, that you should receive at least one dollar back.

To sell your home fast, you will have to consider the following:

  • Find the right broker
  • Know the market
  • Understand your opposition
  • Get creative, especially in a competitive market
  • Add a personal touch to your home
  • Consider the house inspection
  • Prepare for the appraisal
  • Be prepared to sell at a lower price than you want
Continue Reading
Advertisement

Trending