Setting the right price for your home is the most important decision you will make. Learn how to study market trends and set the optimal price for your home.
A key part of your marketing plan is setting the list price. Quite simply, if a home is priced too low, you miss out on potential profit. If a home is priced too high, qualified buyers will look elsewhere.
To determine the best asking price, review the prices of recently sold, comparable homes in the area; evaluate the competition, and study marketplace trends. CENTURY 21® Sales Professionals have ready access to this information, and can provide the big picture to help you determine the right asking price.
It is also helpful to discuss with your agent other terms and conditions that can be included in the sale of the home to make it more attractive to potential buyers. For example, an owner can offer to pay points or complete a major repair – such as a new roof – to make the deal more appealing to a qualified buyer. A home warranty such as the Century 21 Home Protection Plan is another useful marketing tool, providing protection if an appliance or other covered item fails after closing. Home warranties are a relatively inexpensive way for a seller to add value to a property.
Other factors to consider:
TIP: A formal written appraisal can be useful if your property is unique, or there hasn't been much activity in your area recently. It’s also helpful when co-owners disagree about price, or there is any other circumstance that makes it difficult to put a market value on your home.