Sumathi Narayanan Realty's Blog
Establishing a competitive initial asking price for your house often can be difficult. Fortunately, we're here to help you determine the ideal asking price for your home, regardless of the current housing market's conditions.
Now, let's take a look at three tips to help you set the right initial asking price for your home.
1. Study the Housing Market
How does your residence stack up against the competition? Evaluate the prices of comparable houses in your city or town, and you can narrow your home price range.
Furthermore, it helps to examine the prices of recently sold residences in your area. With this housing market data, you can find out whether you're preparing to enter a buyer's or seller's market. Then, you can map out your home pricing strategy accordingly.
2. Conduct a Home Appraisal
A home appraisal offers a valuable learning tool for a home seller. It allows a seller to receive expert insights into the value of his or her residence. As a result, a seller can get a property valuation from a home appraiser and use this figure to establish a competitive home asking price.
In addition, it may be beneficial to conduct a home inspection prior to listing your house. An inspection enables you to learn about any problems that may affect your house's value. And if you choose, you can use a home inspection report to prioritize assorted home repairs that may help you boost the value of your house.
3. Collaborate with a Real Estate Agent
If you're unsure about how to price your residence, there is no need to stress. In fact, you can hire a real estate agent to receive comprehensive support at each stage of the home selling journey.
A real estate agent is happy to help you assess your house and determine the right price for it. He or she is unafraid to be honest, and as such, will offer unbiased home pricing recommendations. That way, you can establish a competitive price from day one of the home selling journey and increase the likelihood of a quick home sale.
Also, a real estate agent goes above and beyond the call of duty to assist a home seller. This housing market professional will set up home showings and open house events to showcase your residence to prospective buyers. Plus, he or she will keep you up to date about offers on your residence. A real estate agent will even negotiate with a buyer's agent on your behalf to ensure you can maximize your home sale earnings.
Perhaps best of all, a real estate agent will respond to your queries throughout the home selling journey. If you ever have home selling concerns or questions, you can simply talk to your real estate agent and receive expert support.
Take the guesswork out of pricing your residence – use the aforementioned tips, and you can set a competitive price for your home in any housing market, at any time.
As a first-time home seller, it can be difficult to determine exactly what you need to do to prep your house for the real estate market. Lucky for you, we're here to teach you what it takes to sell a house in any real estate market, at any time.
Now, let's take a look at three important questions that every first-time home seller needs to consider:
1. Am I ready to sell my house?
For many first-time home sellers, the answer to this question is a resounding "No," and perhaps it is easy to understand why.
Adding a home to the real estate market requires home sellers to conduct plenty of real estate research. By doing so, a first-time home seller can determine how his or her house stacks up against comparable residences that are currently available.
Also, it may prove to be worthwhile to complete a home appraisal. This assessment will enable you to identify your house's strengths and weaknesses and complete any property repairs immediately.
2. After I sell my house, where will I go?
It is important for a first-time home seller to think about the big picture. Thus, you'll need to consider where you'll go after you sell your residence.
If you think about where you'd like to relocate, you can start planning accordingly. In fact, you can establish a home selling timeline and find ways to make the most of the time and resources available to you.
In addition, if you need to relocate as soon as possible, this may have far-flung effects on how you market your residence.
A home seller who needs to move right away may be more likely that others to list his or her house at a below-average price. On the other hand, a home seller who can afford to be patient can wait out the real estate market if necessary.
3. What should I expect when my home hits the real estate market?
Unfortunately, the housing market offers no guarantees. This means a dedicated first-time home seller who goes above and beyond the call of duty to prepare a home may watch his or her house linger on the real estate market for months. On the other hand, a home seller who does minimal prep work may watch his or her house sell immediately.
When it comes to getting ready to add your house to the real estate market, there is no reason to leave anything to chance. With an expert real estate agent at your side, you can boost your chances of getting the best results during the home selling journey.
An expert real estate agent can answer any questions that you may have about selling your house. Plus, he or she will help you list your residence, promote it to potential property buyers and set up home showings and open houses.
Ready to add your house to the real estate market? Use the aforementioned tips, and any first-time home seller can seamlessly navigate the home selling process.
Selling a home may prove to be a long, exhausting journey, particularly for those who fail to plan ahead. In fact, there are many reasons for home sellers to map out the home selling journey, and these reasons include:
1. You can identify any potential home selling pitfalls.
Although selling a home should be a quick, seamless process, problems may occur without notice that prevent you from optimizing the value of your house. Fortunately, if you plan ahead for selling your house, you can take the necessary steps to identify and address potential home selling pitfalls.
For example, conducting a home inspection before you list your residence may prove to be exceedingly valuable. This inspection enables a property expert to detect any underlying problems with your home. Then, you can use the inspection findings to prioritize home improvement projects. And once you complete these projects, you can enhance your house, increasing the likelihood of a profitable home sale.
2. You can improve your house's appearance.
Let's face it – few homebuyers likely will be attracted to a home with a messy, cluttered front lawn. Luckily, a home seller who prepares for the home selling journey can revamp a house's exterior and eliminate any eyesores.
A home seller may notice assorted home exterior problems if he or she takes an objective approach. By doing so, a home seller can consider a homebuyer's perspective and devote the necessary time and resources to bolster a house's curb appeal.
With a stunning home exterior, a house is likely to stand out from similar properties that are available. As a result, a home with superior curb appeal may generate lots of interest from potential buyers as soon as it becomes available.
3. You can get the support that you need to succeed.
No home seller should be forced to move along the home selling journey alone. If you hire a real estate agent before you list your house, however, you can get the support that you need to succeed.
A real estate agent understands the ins and outs of selling a house and can help you plan accordingly. Therefore, this housing market professional will make it easy for you to get the best price for your house, regardless of the current real estate sector's conditions.
Typically, a real estate agent will meet with you and learn about you and your house. This housing market professional next will tailor his or her home selling efforts to ensure that you can achieve your desired results.
A real estate agent also is ready to respond to any home selling question. For a real estate agent, there is no such thing as a "bad" question. This means you can ask a real estate agent any question about selling your house, and this housing market professional will provide you with a thoughtful response.
Clearly, there are many reasons to plan ahead for the home selling journey. If you start planning to list your house, you can improve your chances of enjoying a successful home selling experience.
As a home seller, you likely want to get rid of your residence as quickly as possible. However, there is no reason to underprice your residence to speed up the home selling process.
Ultimately, underpricing a home may create a number of problems. If you fail to consider how much your house is worth, you risk receiving offers for far less than your residence's actual value. As a result, you may fail to maximize the value of your home.
So what does it take to ensure you can establish the right price for your residence? Here are three tips to help home sellers do just that.
1. Employ a Real Estate Agent.
A real estate agent possesses the skills and know-how to help you navigate any real estate market. He or she will be able to offer a wide assortment of housing market data and insights, and as such, provide recommendations to ensure you can set a fair price for your house.
Furthermore, a real estate agent will be able to help you establish the right price for your residence in a buyer's or seller's market – even if you are trying to move out of your home soon. This real estate professional will learn about your needs and explore a variety of options to guarantee you won't have to underprice your home to sell it quickly.
2. Become Familiar with Comparable Homes in Your Area.
Many homes are available in cities and towns across the United States, and home sellers who assess the prices of comparable homes nearby should have no trouble establishing the right price for a residence.
Review real estate listings for houses that currently are available, along with listings for homes that sold recently in your city or town. This will help you understand how your house stacks up against other residences in your area so you can price your home based on the current real estate market.
3. Set Realistic Expectations Throughout the Home Selling Process.
There is no need to panic if your home does not receive multiple offers after the first open house. Instead, try to remain calm, cool and collected, and you can avoid the temptation to lower the price of your house to stir up interest among homebuyers.
Before you add your home to the real estate market, set realistic expectations for how much you would like to receive for your residence and how quickly you need to sell your property. This will enable you to have a home selling plan in place and ensure you are prepared for any challenges that come your way.
A real estate agent can help you establish realistic expectations for the home selling process as well. This professional will allow you to stay up to date about home offers, respond to your home selling concerns and questions and streamline the process of maximizing the value of your residence.
Use the aforementioned tips, and you can speed up the home selling process without sacrificing the value of your house.