Pricing Your Home

So, you know you want to sell your house but how do you know how much you should be asking for? Read on to ensure that you’re asking price is appropriate.

Tip #1: Appraise away

Ensure that you’re asking for a reasonable selling price by informing yourself.  Keeping in mind that home prices change on a continuous basis and seeking the advice of a third party arms you with a powerful negotiating tool and provides you with a selling price based on current market trends. We provide you with a Property report that will help you identify comparable sales in your area.

Doing some homework yourself is a must as you need to know when you look the buyer in the eye that the price is not unrealistic.

Tip #2: Put a price on the property, not your home

Pricing your home isn’t as simple as listing the features that you find aesthetically pleasing. Remember, everyone has their own taste that they will adapt their home to accommodate as they see fit in the future so distance yourself from the look and feel of your house.

One of the most common dangers is overpricing your home in the first instance. After all, being forced to lower your price because no one is willing to pay the money you’re asking for, informs potential buyers that there’s a lack of demand for your property and that you’re getting desperate to turn it over. To guide you in finding the right price for your home, it’s essential that you take a good look at comparable sales. That means looking at what you’re offering before finding similar houses in the street and considering what others have paid for them or what you’d consider paying yourself.

While we advise you to look at similar properties, don’t overlook the fact that your home does have unique features. Highlight them and any other infrastructure plans that can influence your asking price at every opportunity as it could mean the difference between securing extra money for your home. Furthermore, what concessions are you willing and capable to offer potential buyers? For example, are you willing to enter into a long settlement? Use everything you can to drive the price of your house higher.

Above all, never ignore market conditions as this will certainly impact on the price that buyers are willing to offer you. It’s important that you’re prepared and understand why your house is the price it is – if you don’t, why would buyers? Comprehending the how and why will become a powerful negotiation tool later and gives you a powerful edge.

And don’t forget, pricing your house is a crucial step in selling your home so if you’re confident in doing so yourself, although we don’t recommend you use an agent you can call in a few agents to give you a market appraisal.

Tip #3: start reading the property press

It’s a good idea during the campaign to brush up on what’s happening in the property market. Go and visit a few opens and just try and get a feel for the market. This will help you when you have a offer on the table.

We have found that most sellers have a good understanding of what their home is worth, and together with the report we send you and other information available on the internet you can get this part right. Many agents in an attempt to get a listing tell the seller what they want to hear and over-value the property.