Best Practices for Pricing Your Residence

by Robin Anderson Real Estate 11/05/2018

Before you list your house, you'll need to establish a competitive price for it. That way, you can increase the likelihood of stirring up plenty of interest in your house as soon as it becomes available.

Now, let's take a look at three best practices for pricing your home.

1. Evaluate the Real Estate Market

The current real estate market's conditions can impact your ability to sell your residence. However, if you study the real estate market closely, you can differentiate between a buyer's and seller's market and plan accordingly.

In a buyer's market, the number of home sellers exceeds the number of homebuyers. As such, you likely will need to establish an aggressive price right away to separate your house from the competition.

On the other hand, a seller's market favors home sellers over homebuyers. If you're operating in a seller's market, you may be better equipped than ever before to earn a significant profit.

To differentiate between a buyer's and seller's market, examine the prices of recently sold homes and available homes in your area. This housing market data can provide deep insights into the current state of the housing market. Plus, this data can help you understand how your residence stacks up against the competition.

2. Conduct a Home Appraisal

Ultimately, a home appraisal can make a world of difference for any home seller, at any time.

During a home appraisal, a professional appraiser will examine your house both inside and out. Then, this appraiser will offer a valuation of your property based on his or her findings.

A home appraisal involves an evaluation of the current condition of your home, your house's age and your neighborhood. Therefore, if you complete a home appraisal, you should have no trouble using the appraisal results to help establish a fair price for your residence.

3. Collaborate with a Real Estate Agent

When it comes to selling a house, there is no need to work alone. Fortunately, if you collaborate with a real estate agent, you can receive expert insights into all aspects of the home selling cycle.

A real estate agent is happy to meet with you and learn about your home selling goals. Next, this housing market professional will offer home pricing recommendations, ensuring you can make an informed decision about how to price your house.

In addition, a real estate agent will go above and beyond the call of duty to ensure you can enjoy a seamless home selling experience. This housing market professional will promote your residence to large groups of homebuyers, set up home showings and open houses and put together an engaging and informative home listing. Also, a real estate agent will always keep you up to date about any offers on your home.

Looking to list your home in the near future? Use the aforementioned best practices, and you can establish a competitive price for your residence and boost your chances of a fast, profitable home sale.

About the Author
Author

Robin Anderson Real Estate

“My Passion is people and relationships and I promise to provide my clients with exceptional service tailored to their individual needs.” -Robin Anderson 

Robin is a Georgia native who brings her passion for people and her love of homes to work for her clients. She and her husband, Andy, have been married for almost 28 years and have two children, Ellen and Drew. They currently live in Fulton County, but Robin has also lived in Cobb County, Douglas County, Carroll County, and Coweta County. She has been integral to many real estate endeavors including designing and building several custom homes, remodeling homes, subdividing land, managing rental properties, and buying and selling properties. After spending two years in Cumming and Decatur working with a new home builder, Robin is excited to work with buyers and sellers in her own community. Although Robin is driven to provide outstanding service to her clients, she is acutely aware that people want to know you care about them before they care how much you know. She believes meaningful relationships bring immeasurable joy to the world, and she knows that real joy comes from faith in Jesus Christ. She counts her faith, family, friends, and community as her most treasured blessings. In our increasingly digital world, Robin understands the importance of multimodal marketing, so she and her team employ the latest research, marketing strategies, and technologies to ensure that their clients’ properties are positioned and marketed for success. With professionally designed advertising strategically placed in magazines, direct mail publications and flyers, and Internet sites, her clients’ properties receive the highest and most effective exposure in the marketplace. Robin is highly motivated but sensitive to the fact that buying and selling homes can be an emotional experience, so she makes it a priority to keep clients closely informed throughout the process and strives to produce quick results. She appreciates the opportunity to help her clients navigate the real estate process, and she aspires to deliver quality customer service that is both informative and positive.