Shorewest Shares: Four Tips to Set an Asking Price on your Home that’s Right for the Current Market

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SS7When it comes to selling a home, one of the most difficult things to do involves putting a price tag on your home.

When selling your home, you don’t want to come in too low and leave money on the table, but you also don’t want to price yourself out of the market either. A professional real estate agent can help clients find that happy medium between the right prices that will get you the biggest payoff, be competitive in the current market and leave you without seller’s remorse for parting with a home they love.

  1. Start with the data. Consumers have access to more real estate data than ever before. In many cases, this can be helpful, and clients can be proactive about educating themselves about the home-selling process. A good agent will share the logic and data behind his or her thought process and be explicit as to how she/he arrived at the suggested listing price. A Shorewest real estate agent will be open and willing to address questions from their sellers and work through the math with you. A great sale depends on agents being confident that the home is listed at the right price and sellers being confident that they are getting the most money possible for their homes.
  1. Take a walk through the pricing criteria. While data and education can help alleviate some confusion over a home’s list price, sometimes it’s best to see what else is out there. Set up a time to walk through other homes for sale on the market listed at the price you think your home should be listed for. Together, look at the specific features or elements that push that home to the higher price point.
  1. Build a bidding war. Every seller has dreams of multiple buyers all competing for their home. Many times the biggest drivers of bidding wars — like school districts and market inventory — may be out of the seller’s control.
    • Stage the home. Spending the money to clear out clutter and have the property professionally staged can boost both curb and walk-through appeal. Your Shorewest Agent can help stage your home and take professional photos, giving you a better advantage for more people viewing it, as 94% of people start their home search online.
    • Mention key selling points. Sellers should be proactive in sharing the little things that only someone who has lived in the home can really appreciated. Things like closets with smart organizational systems or specialty energy efficiencies can be surprisingly big selling features.
  1. Setting aside emotional attachment. Homeowners put in the work, time and love and they want their selling price to reflect those! Sellers should love the home for what is was, hold tight to the memories, and embrace the potential joy and life possibilities that can come with a successful sale.

Whether you’re ready to buy or sell, contact your Shorewest REALTOR® to get started in the process.

 

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