What is the first thing you ask your REALTOR® when you are thinking of listing your home? In my experience it is, “What do you think I could sell my home for?” In this market of rising prices that can be a tricky answer, normally I would look at similar properties sold and active listings and compare your property to the most recent sales. One things is for sure regardless of the market – if you list your home competitively from the start, you’ll get the best results!
List your home competitively from the start
This is called a market evaluation, giving value to:
All these can increase or decrease the value of a home. Sometimes a home owner may need to sell right away, sometimes they may want to test the market.
Factors when listing your home for sale
There are many important factors when listing your home. In my opinion the price, condition of the home and the marketing are the most important. If you list your home too high you may get many showings but no offers, in which case you need to fight backwards and get the home to the correct price. One of the reasons why it’s important to list your home competitively from the start.
I always tell my clients, these are the 2 best ways to tell if your home is priced correctly; if it has had 10 showings and no offers a price adjustment is probably necessary, if you have no showings and the property has been marketed well, is on MLS and has been for 3 weeks then you also may want to adjust the price.
If a property is on the market too long, especially in this extremely active market most buyers will assume something is wrong with the home. The best plan is to list your home competitively from the start and to price your home correctly to avoid price reduction and disappointment.