You’ve done everything possible to get your property ready for sale. You’ve fixed floorboards, patched up drywall, and given it a fresh coat of paint. All that’s left to do now is to sell it.
But for what price?
Setting an asking price for a home can be a true challenge if you’ve never had to do it before. This initial price can affect the price for which you eventually sell your house as well as the time in which your house is sold.
To put it simply, setting and managing an asking price is hugely important. Fortunately, this article is here to make it a little easier.
Here are 5 tips for managing your asking price.
1. Make It Easy to Find in Online Searches
When selling your home, you want to attract as many potential buyers as possible. The larger your pool of potential buyers, the better chance you’ll have of selling your home in a timely and lucrative manner.
Because many home hunters search for homes online, you need to do everything you can to make your home easily searchable.
A good rule of thumb is to round down to the nearest $100,000.00. That way, your property will have a better chance of ending up in someone’s search parameters.
For instance, instead of listing your home for $620,000.00, list it for $600,000.00.
2. Take the Process Seriously
Home hunters are looking to buy from serious sellers. Therefore, you must present yourself as a serious seller.
You do this by setting a nice, solid, straightforward price; not a cute and “creative” one.
Don’t list your home for $393,772.00. Instead, list it for $394,000.00 or $400,000.00.
3. Do Your Research
The last thing you want to do when setting a price for your home is to just throw a number out there willy-nilly. To sell to prospective buyers, you need to set a price which is realistic.
This is done by researching the going prices of similar homes in your area. Your best bet is to get on sites like Zillow and determine what a reasonable price would be.
4. Be Open to Change
The process of selling a house is an ever-changing one. While you may hope to sell for a designated price, the truth of the matter is that it’s not always a possibility.
If your original listed price is not attracting any offers, you may have to go a little lower.
5. Hire a Real Estate Agent
If you really want to find and maintain the right listed price, you’d be best off by hiring a real estate agent. Real estate agents have been through the process many times before, and know how to roll with the punches as far as price fluctuations go.
Though hiring an agent may cost money, it can also save you money in the long run.
Need Help Managing Your Asking Price?
If you’re uncomfortable or nervous at the prospect of setting and managing the asking price of your home, you might be better off by hiring a real estate agent. An agent can handle all of the technical work so that you don’t have to.
Here at Power House Real Estate, we’re well-versed in everything that’s involved with selling a home. We can set and manage an appropriate price for your home to ensure that it sells both quickly and favorably.
Contact us for more information!