“What’s the right listing price for my home?” That’s a hugely important question. Choosing the right listing price for your home can lead to multiple offers and a quick sale. That said, it’s far from an exact science. That’s why having an experienced Realtor is so important!
Think Like an Appraiser
I was trained to look at home values the same way an appraiser would. The appraiser has to feel confident that the under-contract price is justified, otherwise the deal falls apart. There are 3 key things I look for:
- Sales within the last 6 months
- Sales within 20% of your home’s size
- Sales with a comparable floorplan and property type
From that point, I adjust for things like extra bedrooms, finished basements, open space with views, etc.
By the way: If you contact me and I feel that I simply don’t have enough experience with your particular neighborhood and its property values, I will happily refer the business to someone who does know. I want you to get the best price you can, even if that means it’s not with me.
Hitting the Bullseye on Listing Price
Even after 14 years in the business I run into situations where I think I know what the sales price of a house should be, but every once in a while it doesn’t sell for that — or it sells for WAY over the listing price. The market is sometimes surprising and sometimes just plain weird.
As your agent, I work for you. Together we can decide on the right listing price for your home. Just remember, if you have to make price adjustments (i.e., price reductions), do it sooner than later. There is nothing worse than a stale listing.
For more advice on setting the listing price for your home, I recommend this article from House Logic — “The Ins and Outs of Setting a Price for Your Home.” It goes into detail about the factors I’ve covered here, giving you insight about how to determine a solid number.
Thinking of selling? Call me so I can help you set a listing price that hits the target! 303-204-6494.