Knowing how to price your home to sell can save you precious time and money in today’s competitive real estate market. We have valuable tips for you here!
Let’s take a closer look at how to price your home to sell by focusing on the two most important goals. When you want to sell your house as quickly as possible and receive the highest return on your investment, it’s essential that you set the asking price correctly right from the start.
🤔 How do I price my home to sell?
Knowing the difference between the asking price and the selling price can provide some clarity as you begin this part of the selling process. You’ll also want to determine how much your home is worth in today’s real estate market and have a real estate agent available to answer questions along the way.
💲 Asking Price vs. Selling Price
You may hear the asking price also referred to as the listing price. The asking price is the amount of money that a seller wishes to receive from the sale of their property. The amount of money the buyer actually agrees to pay for the home is the selling price.
Ideally, you want the selling price to be greater than or equal to the asking price, but there’s no guarantee this will happen. The best chance for success here is to set the asking price correctly from the start so there is little need for change.
As difficult as it is to do, the best way to begin the pricing part of the home selling process is to detach emotionally and stick to the facts. As a real estate agent, we can help you stay focused and provide you with the most current market information to help.
🧮 What is my home’s value?
Trying to determine how much your home is worth can be intimidating, but the best place to start is a home valuation calculator. Just add some basic information to the home value estimator and get an answer within minutes – from anywhere!
The estimate you receive can help you create a starting point for setting the asking price, but we will provide you with a comprehensive home value report that takes other factors into consideration. Things like current real estate market trends, other houses for sale in your area, and property upgrades can impact the value of your home.
When considering things that could impact the value of your property, you may be surprised at what makes a difference. Anything from the neighborhood to the number of bathrooms compared to bedrooms could make a difference to buyers in your area.
The good news is that we follow market trends closely and understand what Richmond area buyers are looking for in a home. We can also let you know if your home has something that makes it worth more than others for sale in the neighborhood.
❓ Can you set my asking price?
We can help you determine the accurate value of your property and provide you with a valuable marketing plan for your listing, but we can’t actually set the asking price for you. We can offer advice based on the facts, experience, and knowledge of the Richmond area, but the decision is yours alone.
🏡 Price Your Home to Sell
Earlier, we mentioned how important it is to set emotions aside when you’re setting the asking price for your house, but it’s just as essential to be realistic about upgrades and previous renovations. You may be surprised to find that what you find valuable is not the same thing buyers in the area are excited about finding in a home.
Maybe you added a hot tub to your home when they were all the rage, but the popularity in the neighborhood has waned since then. Even if you paid a lot of money for that hot tub, it may not add the kind of value you hope to your property.
🤝 What about negotiations?
Even when you’ve done the best research, received an accurate appraisal, and set the asking price according to the facts presented to you, buyers may still want to head to the negotiations table with another offer. The good news is that we handle all negotiations on your behalf so that you don’t have to deal directly with potential buyers or other real estate agents.
It’s a good idea to know ahead of time what you’re willing to accept in the way of negotiations. This knowledge can keep you focused and give us the power to help you reach your real estate goals.
We are a locally owned Real Estate team right here in RVA, and we believe our motto says it all: ALL ABOUT THE EXPERIENCE!!! We strive to make our client’s need to sell or buy a home, or even their property management needs an overall great experience. Our business model is deeply founded in the fact that it is all about the experience!