The smart approach to define the selling price of your home


Are you planning to sell your old home? Do you feel you are oblivious to how you should set the price? Setting the right price is critical. The reason is if your old home sells at a good price, then you will have ample money for your new home.

If you get a good price for your old house, then you can build your dream house at Richmond-Hills Mackay.

Do not get panic-stricken if setting house prices is an alien term for you. We will give essential insight into this aspect.

Defining the price for selling your home

Look into comparable listings

 The first thing you need to do is get hold of comparable listings. You need to look at every house that gets listed in your neighborhood. The best thing to do is consider homes which are ½ mile or ¼ mile radius

You should also consider looking into the finer details when setting the price of your house. You need to look at the physical barriers and the neighborhood dividing lines. For example, railroads, freeways and major streets.

 When you are looking at comparable listings of the home, then you should first consider the original price of the home. Next, you should consider the selling price and asses the reduction in price.

The best approach will be to consider at least three properties that got sold at the market value.

Do not overlook the expired listing

When setting the price of your home, you need to look at the expired listing also. Well, the expired listing means that the listing agreement ended without sale. Sometimes the listings get withdrawn also.

You need to look at the withdrawn listing also. Withdrawn means that the home owner does not want to market the property. You need to identity why the properties did not get sold. Check out if there are any common factors which these properties share with your house.

Visit the active listings

 As a seller, you need to keep one thing in mind. You will not always get the price you want for your home. The best approach will be to tour the active listings. The benefit of this practice is that you will get to know what the buyers will see.

 You should list down the pros and cons of the houses you visit. If there are some common flaws which are present in your home also, then rectify them. Remember, these active listings are your competitors.

Judge things as a buyer. Perceive why a buyer might want these properties or not. You also need to have an idea about market-dependent pricing. Make sure that you collect all the relevant data about the market condition.

When you follow these simple rules, then you will be in a position to get a good price for your home. If you lack knowledge, then seek assistance of a professional realtor. He will be in a position to guide you how you can make the most of this opportunity.

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