While it’s true that you can command a higher price the better-prepared your home is, it’s also true that your pricing should be comparable with other homes of similar size and amenities in your neighborhood. So take a couple of weeks to gather all the information you can so you can set a price that buyers will instantly recognize as a good value. Here are two tips for gathering vital information:
Visit REALTOR.com and search for other homes in your zip code and the price range where you plan to list your home. Compare these homes to yours. If you plan to list your home for $300,000 and you have three bedrooms and one bath, but all the homes between $275,000 and $300,000 on REALTOR.com have four bedrooms and two baths, your price should be lower (most other factors being equal). When you find several homes that are similar to yours in a certain price range, you know that’s the range where your price needs to be.
Take two weekends to go to open houses, with a notepad in hand and compare your home and your price to the one you’re touring. Talk to the agent there. They’ll be happy to share information with you about your local market and may even offer to provide a comparative price analysis, or ‘broker’s price opinion’ at no charge. (But be prepared! You’re likely to hear the agent’s negative perceptions of selling your own home. Read our FSBO Mythbusters and be armed with the facts!)
Stay tuned for more pricing tips next month!
