One of the most important yet challenging aspects of selling a home is figuring out which price tag to attach to it. The right price will almost guarantee you a quick sale, while the wrong price will cause you to cheat yourself out of a profit or result in your home sale process dragging out for months unnecessarily, according to expert real estate broker Melissa Yardy. A few tips can help you to price your house wisely for sale.
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First, your real estate broker should be able to come up with comps for you – the prices at which homes that are comparable to yours have sold for. Review these comps and get an average sale price from them. Your home’s asking price ideally should be within the 10 percent range of your neighborhood’s average home sale price.
It is also good to use buyer psychology tactics when creating the “perfect” price. For instance, instead of setting a home price to $205,000, try making it $199,995. This will allow you to capture home buyers who engage in range searching – such as searching for homes from $150,000 to $200,000. There is also proof that prices beneath a “century” figure are naturally more captivating to buyers.
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You also may want to look for a “soft spot” in your neighborhood’s inventory. If several homes have price tags that range from $175,000 to $177,000, for example, and the next batch of homes are being sold for more than $190,000, you may benefit from pricing your home at about $180,000.
It is also worth noting that spring is the best time to sell a home, while the winter season is usually the slowest time. This is when people’s minds are focused on the holidays, not necessarily buying or selling their homes. With guidance from a proven real estate broker, you can increase your chances of getting your home sold quickly and taking advantage of today’s Florida real estate market.
