Deciding to sell your home is a big deal. You’ve probably invested a lot of money and time repairing, remodeling, or adding more elements to your home and, of course, created a lot of beautiful memories in it. Whether you’re working with an agent or listing your home by yourself, it can be challenging to set the price of your property without having emotions getting in the way.
5 Tips to Set the Right Price for Your Home
Fortunately, there are some tips to avoid mistakes and set a fair price for your property that can catch the attention of house hunters very easily. Ready to become a pricing expert? Let’s explore five tips to set the perfect price for your home:
Start With Your Home Value
The best way to get an accurate idea of how much you could ask for your house is to hire a licensed valuer to assess your property’s value. After this, you can increase or decrease that price depending on your needs or ask a real estate agent for advice. If you decide to have a realtor performing this task, keep in mind that they only offer a rough estimate of the price.
Compare With Recently Sold Properties
If you’re working with a real estate agent, they should be able to provide you with a Comparative Market Analysis (CMA), which is the compilation of recent sales from your area. This information is very useful to compare the home details, days on the market, and final sale price.
On the other hand, if you’re going through this process by yourself, you can always do your own research online and get a good idea of your home’s value. However, you should really consider contacting a realtor to request a CMA. Sometimes realtors don’t even need to step into your home; they can normally provide it to potential customers.
Watch Out From the Competition
In addition to recently sold houses, you must also take into account the properties that are currently for sale in your neighborhood. Make sure that your real estate agent checks out the homes in person to compare the condition they’re in and assess how your home sizes up.
Study Your Market
In order to set a good price for your home, you need to understand the market you’re in. It will be easier to determine a pricing strategy once you know if you’re in the seller’s or buyer’s market. If you’re in the buyer’s market, that means the real estate inventory is too high, and there are plenty of homes for sale. Therefore, you may have to price your home slightly below the market value to get people’s attention.
On the other hand, if you’re trying to sell your home in the seller’s market, that means there are several interested buyers, but the real estate inventory is low. These market conditions often make buyers willing to pay more for a property than they normally would. Therefore, you have the opportunity to raise your asking price slightly.
Don’t Be Afraid to Cut the Price.
Once you listed your home for sale, even if you did an exhaustive search, sometimes you’ll come to the conclusion that you’ve listed too high. In these cases, the key to avoiding major complications is to recognize quickly that you are overpriced and make the proper adjustment. Everybody makes mistakes, especially if it’s your first time pricing a property.
Quick Overview of Atlanta’s Home Prices
If you’re trying to sell your house in Atlanta, it’s important to know current information about the home prices in the area. The value is seasonally changed and only includes the middle price tier of homes. This piece of information can work as another guide to set an appropriate price.
Forget the Hassle; We Buy Your House Now
If you’ve been wondering: “Is there a way to sell my house fast for cash in Atlanta, GA?”, this is your lucky day. At Bogino Properties, we’ve helped thousands of homeowners with fair, no-obligation, and all-cash offers for their properties. No commissions, no fees, no hassle. All you have to do is call us now, and you’ll receive the best offer in the shortest time possible.