Planning to sell your house? Worried about getting a fair price for your home? Wondering how long you’d have to wait till the right set of buyers come along?
Settling on a price that is just right to attract potential buyers and also get you a fair deal for your home can be a tricky business. While buyers may be interested in properties that are valued low, you may want to watch out for pricing your house too high which could lead it to sit on the market for too long.
A real estate expert can help you best, with industry expertise coupled with knowledge about your local market. Consulting with one can help you decide on a price that guarantees you a profitable sale.
A number of factors go into considering a fair price for your home, grossly including:
Age and location
Rates in the neighborhood
Dimensions of the property, including the number of rooms
History of sale
Getting Familiar With The Pitch
It is imperative that you understand the market you are in, and are aware that every property stands on its own unique value. While it is about striking the right chord, you could discuss with your agent pricing tactics that are specific to your own market.
Be Open To Tweaks
Let’s understand that pricing your house isn’t something as simple as you quoting a price and someone interested in it approaching you to make a purchase. There are many factors that influence these prices and settling on a number could take much longer than you expect.
Keeping in mind fluid market conditions or any other factor that could influence the sale, be prepared to have ongoing pricing discussions long after the listing is done.
The Psychology Of Pricing
The “99” pricing strategy nearly always works while setting a number. For example, pricing a house at $499,000 instead of $500,000 helps the buyer adjust a part of their closing costs.
Additionally, it helps gain maximum exposure for online buyers as the property will appear in larger search results for properties available.
You may rarely come across investors who are ready to buy a house in any condition, so you will need to also work with appraisers who look through your home with a keen eye, noting everything about it: from age and location, to furnace and plumbing.
With all this coming together – voila! Your house is fairly priced.