The single most important factor to any successful home sale is choosing the correct price. This is not a number that you can pull from the air – or from within your heart. It needs to be based on real and actual criteria and data, otherwise your listing will fall flat with buyers and stay on the market for a lot longer than you hoped.
Need some advice on how to price your home for sale? Here are three tips to consider:
Tip 1: Consult with an Expert
First and foremost, a realtor is critical to ensuring that your home is priced competitively and well-staged before hitting the market. They will assess important factors, such as location and condition, to generate an attainable price, plus your realtor will pull comparable listings and sales, check out sold comps, review pending sales and active listings in your neighbourhood to make a well-informed decision.
Tip 2: Be Realistic
If you are tempted to set your price at the top of its range or even over market value, your home may take longer to sell – and the longer you sit on the market, the more ammunition buyers have to make low-ball offers. Remember: the best price you’ll get in today’s market is the one you get now. Act fast, be smart and heed the advice of your realtor when it comes to pricing your home right.
Tip 3: Look Forward, Not Back
It can be tempting to look back months or years ago to where the real estate market was, but this isn’t a helpful measure for the present time. And what your neighbour sold for six months ago isn’t necessarily relevant either. Instead, your real estate sales representative will guide you based on the current market to help you pinpoint your selling price with precision to ensure that you capture a sale today.
Final Thoughts
Valuing real estate is a complex process that’s best left to the professionals. To get the most accurate market analysis of your home, contact me Deborah Clerk, Real Estate Sales Representative, ASA with Keller Williams Realty Solutions, Brokerage in Mississauga to schedule your free home evaluation. Consider it sound advice to guide you home!
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