If you intend to list your residence, you'll need to think about how you'll price your residence. However, what you initially paid for your home is unlikely to match its value today. And if you set an initial asking price that is too high, you risk alienating potential homebuyers.
Lucky for you, we're here to help you determine the ideal initial asking price for your residence to increase the likelihood of a fast home sale.
Now, let's take a look at three quick, easy ways to establish a competitive price for your house.
1. Look at Housing Market Data
Housing market data is easy to find and can show you how your residence stacks up against recently sold homes in your area.
Evaluate the prices of recently sold local residences that are comparable to your own. With this housing market data in hand, you can better understand pricing trends for houses in your city or town.
In addition, don't forget to check out the prices of available houses in your region. This housing market data will help you understand the current state of the real estate market.
2. Conduct a Home Appraisal
A home appraisal is valuable because it allows you to receive a property valuation from a home expert. When the appraisal is complete, you may be able to prioritize various home improvement projects as well.
During a home appraisal, a property expert will examine your home's interior and exterior. This property expert also will assess the prices of recently sold and available homes in your area, including the prices of residences in your neighborhood. Following the appraisal, you'll receive a property valuation.
If a property valuation falls below your initial expectations, there is no need to worry. Remember, you can always perform assorted home maintenance and upgrades to boost your house's value.
3. Collaborate with a Real Estate Agent
Work with a real estate agent throughout the home selling process – you'll be glad you did. A real estate agent will go above and beyond the call of duty to ensure that you can get the best price for your residence, regardless of the housing market's conditions.
A real estate agent first will learn about you, your home and your home selling goals. Next, this housing market professional will list your residence, promote it to large groups of homebuyers and host home showings and open house events. If a homebuyer submits an offer on your residence, your real estate agent will help you analyze the proposal and determine whether to accept, reject or counter it.
Furthermore, a real estate agent is happy to respond to any home selling questions. This housing market professional knows exactly what it takes to sell a residence, and as such, is ready to respond to your home selling queries at all times.
Get the best price for your home – use the aforementioned tips, and you can price your house appropriately.
About the Author
Marsha Charles
Consistent top listing and selling agent receiving Chairman's Club award for superior sales achievement almost every year while associated with Preferred Properties, Inc. Consistently receive the International Presidents Premier award for sales volume since joining Coldwell Banker Realty and ranked in the top 1% of agents in Connecticut and Westchester County. In 2021 I received the International Society of Excellence award for sales volume in excess of $100,000,000. I have been named a Top Five Sales Agent for customer satisfaction since 2010 (longer than any other agent in Connecticut) and listed in Connecticut Magazine. Named one of the Top Agents in Connecticut by Real Trends since 2018.
I work with sellers and buyers and also have a strong understanding to needs of those who are relocating . Background and experience in advertising, public relations and photography offer creative and innovative marketing plans for sellers.
Realtor designations include: Graduate Real Estate Institute, Certified Residential Specialist, Certified Residential Marketing Specialist, and Pricing Strategy Advisor. Served as President of New Canaan Board of Realtors (two terms), Director (three terms) and currently serve on Professional Standards Committee. Named Realtor of the year by the New Canaan Board of Realtors in 1994and again in 2022.
Married and mother of other of four children who attended and graduated from the New Canaan School System, Member of New Canaan, Darien, Greenwich and Statewide MLS systems. Areas covered include New Canaan, Darien, Greenwich, Rowayton, Norwalk, Wilton and all of lower Fairfield County.
