When you decide that it’s time to sell your home, chances are you will want to price your home to sell fast. The best way to begin the process of pricing your home is to take your personal feelings out of the equation. By viewing your home as a property rather than, say, “my first home,” you take your personal feelings out of the equation and can therefore focus on the sale as a business transaction. If you want to price your home to sell fast, you will need to do some homework first, and if you do it right you can unload your property at a great price and within a reasonable time period.
Check Out the Neighborhood
Don’t be afraid to visit open houses in the neighbourhood to see what homes in your area are priced at and what that price includes. Square footage is not the be all, end all of pricing a home. The quality of the contents that come with the home are also of major importance (e.g. high-end faucets, energy efficient appliances, wood flooring throughout the home, etc.) Focus on homes that are being sold within a 2 mile radius and that similar in size to your own and pay close attention to the things that catch your eye.
- Are the Floors Clean?
- Is the home move-in ready?
- How’s the temperature?
- Are the kitchen and bathrooms up to date?
- Are the walls newly-painted?
- Does the home need some obvious repairs?
When you get back to your place, try approaching it in the same way and ask yourself the same questions. Also, keep an eye on how long the homes stay on the market. Remember that the homes that sell the fastest are the ones that are in great condition, clean and are staged well.
Follow the Comparables
Now it’s time to look into the homes that are similar to yours that have already sold in your area. Although open houses will show you what people are asking for their homes, comparables will demonstrate what homes are actually selling for. Find out how long these homes were on the market before selling and this will help you establish which way local prices are trending. If you have trouble putting this information together visit Trulia or Zillow or call David the Agent and he will be glad to help with the information at no charge.
Offer a Good Deal
If three homes on your block are listed between $300,000 and $310,000, and you decide to list for $280,000, guess whose property will generate the most interest? It is best to price your home right the first time rather than have to constantly revisit the price you set and keep lowering it. Remember that if you list your home for sale and get visits but no offers, you may have asked for too much. If no one even shows up, then there is a good chance you got your pricing too high.
Price Your Home to Sell
Selling a home is not difficult so long as you educate yourself about what’s going on around you and price your home effectively. Add to that a move in ready home in a great location and you will have yourself a home sale in no time.