If you want to enjoy a successful home selling experience, it generally is helpful to establish a competitive initial asking price for your residence. With an aggressive price, you can stir up lots of interest in your home. As a result, you can increase the likelihood of a fast home sale.
Now, let's take a look at three tips to help you set a competitive initial asking price for your house.
1. Conduct a Home Appraisal
A home appraisal enables you to receive a property valuation. Then, you can use this valuation to determine how to price your house.
In addition, it often is beneficial to conduct a home inspection prior to listing a residence. An inspection allows you to receive insights into any home problems. Once you have a home inspection report in hand, you can prioritize house repairs and upgrades, improve your home and get the best price for your residence.
2. Evaluate the Local Housing Market
Take a look at the prices of available houses in your city or town that are similar to your residence. By doing so, you can establish a price range for comparable homes and use this information to decide how much to ask for your house.
Also, you may want to take a look at the prices of recently sold houses in your area and find out how long these residences were available before they sold. This housing market data can help you differentiate between a buyer's and seller's market.
3. Consult with a Real Estate Agent
Pricing a home can be difficult, particularly for those who are listing a residence for the first time. If you work with a real estate agent, however, you can receive in-depth house selling insights and ensure you are better equipped than other sellers to optimize your home sale profits.
A real estate agent is happy to help you set an initial asking price for your home that hits the mark with buyers. He or she first will learn about you and your home and create a custom property selling strategy. Next, a real estate agent will help you prepare your residence for the real estate market. And when you're ready to sell your house, a real estate agent will add your residence to the local housing market and promote your home to buyers.
Of course, a real estate agent provides lots of assistance throughout the home selling journey too. A real estate agent will offer honest, unbiased recommendations at each stage of the home selling journey. Best of all, he or she will respond to any of your home selling concerns and queries.
As you get set to enter the real estate market, you should consider how to price your residence. Thanks to the aforementioned tips, you can set a competitive initial asking price for your home. That way, you can generate significant interest in your house as soon as it becomes available.
Eileen is a Licensed Real Estate Salesperson and has been in the industry since 2004. Her experience in home sales range from a $4,000,000 single family home to a $100,000 Co-op. She covers both Westchester and Putnam County and works with both buyers and sellers. "My love for Westchester and particularly the Hudson River Valley is one of the many reasons why I enjoy working in real estate". She is a lifelong resident of Westchester County. She grew up in Tarrytown and moved to Briarcliff Manor where she raised her family. She received her MPA from Pace University and worked many years in the Human Resources field. She held the title of Vice President of HR for the largest teaching hospital in Westchester and Director of Classification and Compensation for one of the largest employers in Westchester County. After a successful HR career, Eileen decided to retire to make a full time commitment to her real estate clients. Outside of work you can find Eileen on the Tennis, Platform, or Pickleball Court along with Hiking in Westchester or the surrounding counties.