Set a Realistic Asking Price for Your Home

by Daniel Martin 09/30/2018

Many home sellers face a dilemma. In most instances, it is important to set a competitive price for your property to stir up plenty of interest in it. Conversely, it is essential to explore ways to maximize the value of your residence.

For home sellers, establishing the right price for your house is key. By doing so, you can set a price for your home that meets your needs as well as homebuyers'.

What does it take to establish the right price for your residence? Here are three tips to ensure home sellers are equipped to do just that.

1. Study the Housing Market Closely

The housing market fluctuates constantly. As such, what your home was worth yesterday may not be what it is worth today.

If you study the housing market closely, you can price your residence based on the current real estate sector's conditions. Thus, you'll be better equipped than other home sellers to garner attention from homebuyers and accelerate the home selling process.

Examine the prices of comparable houses in your area, along with the prices of recently sold houses similar to your own. This will make it easy for you to establish "fair market value" for your property and price it accordingly.

Also, don't forget to conduct a home appraisal before you add your home to the real estate market. With a home appraisal, you'll be able to receive comprehensive insights into your home's condition and complete home repairs to boost its value.

2. Set Home Selling Goals

Do you want to sell your house as quickly as possible? Or are you looking to optimize the value of your home, regardless of how long it remains on the real estate market?

Set home selling goals prior to adding your house to the real estate market, and you can establish a fair price for your residence.

For example, if you want to sell your house so you can relocate quickly, you may want to price your residence competitively. On the other hand, if you can afford to be patient, you can always wait out a buyer's market to maximize the value of your residence.

3. Hire an Experienced Real Estate Agent

Your real estate agent will play a key role in your ability to sell your house and get the best price for it. And if you employ an experienced real estate agent, you should have no trouble accomplishing your home selling goals.

With an experienced real estate agent at your disposal, you can receive extensive support throughout the home selling process. This real estate professional will offer expert tips and advice to help you get your property ready for the real estate market. In addition, he or she can offer guidance about how to price your home competitively, whether to accept or reject a homebuyer's offer and more.

Collaborate with an experienced real estate agent, and ultimately, you can simplify the process of selling your home.

About the Author
Author

Daniel Martin

Membership:

National Association of REALTORS (NAR)

Connecticut Association of REALTORS (CAR)

Bridgeport Board of Realtors

Valley Board of Realtors

Greater Fairfield County CMLS

Connecticut CTMLS

Education:

Principals and Procedures of Real Estate

Naugatuck Valley Community College

Connecticut School of Electronics

Housatonic Community College

Achievements:

Connecticut Magazine 5 Star Realtor 2014-2023

Top Producer

Top Listing Agent

Top Selling Agent

Professional Specialty:

My experience and expertise in the home selling and buying process gives my clients an advantage in any real estate market.

*First Time Home Buyers

*Single Family Homes

*Multi-Family Homes

*Land

*New Construction

*New Residential Developments

*Condominiums

*Downsizing

*Rentals

Personal:

Lifelong Connecticut Resident

Married with 2 Children, 3 Grandchildren

Musician

Golf Enthusiast

Areas Covered:

I specialize in Fairfield and New Haven Counties. *Shelton *Trumbull *Stratford *Bridgeport *Fairfield *Milford *Danbury Beacon Falls *Brookfield *Naugatuck Valley It doesn't stop there - I can also refer to anywhere in the world! Niche Marketing My background in customer service and technology gives me a step ahead of the competition. I use every available Marketing Resource to make your home stand out.