3 Tips for Pricing Your Home to Sell

house made from folded moneyHomeowners understandably want to get the best possible price when selling their homes; home buyers understandably want to get the best value possible. When a compromise can be reached between the two, a sale is born. There are many factors that affect the sale prices of residential real estate in north Atlanta, from market conditions and interest rates to the marketing and staging of the home. Take a look at some tips for setting the list price of your home, from the Wolfert & Wrenn Real Estate Team.

Pay attention to local market factors

Determining an appropriate price for your home involves weighing a number of different factors, including:

  • Value– The value of your  home compared to other homes in the same block, neighborhood, school district, or city.
  • Supply– The local real estate inventory, or how many homes are for sale. The more inventory, the more competition you’ll have.
  • Economy– Other factors can affect the local economy and therefore home prices and inventory, like a major employer moving into the area or laying people off.

Play it cool

Never show your hand when it comes to the asking price of your home. If a buyer catches wind of the fact that you need to sell your home quickly, you’ve lost the upper hand. Once buyers know that you may be willing to accept a lower closing price in exchange for a swift sale, you will be unlikely to get the asking price you wanted. Of course, you also need to be realistic about the market and where your home fits.

Remember that sale price is just one piece of the pie

Don’t forget that the price itself is just one component of the larger deal you make with the buyer. Sometimes it may be wise to take a lower price as opposed to waiting for a higher offer but having to pay closing costs, allocating money for roof repairs, etc.

Home pricing is complicated and the wrong price could alienate buyers, lose you money, or cause your home to take much longer to sell. Contact Barry Wolfert and Lisa Wrenn of the Wolfert & Wrenn Real Estate Team with Keller Williams today to get the best advice and latest market information.

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