Waterfront Realty Group Inc
Marc Brandt, Waterfront Realty Group IncPhone: (563) 508-7134
Email: [email protected]

Is Your Home's Initial Asking Price Realistic?

by Marc Brandt 12/08/2019

A home seller must consider the initial asking price of his or her residence closely. Because if a home seller sets an unrealistic initial asking price, he or she risks alienating potential buyers.

Now, let's take a look at three tips to help you set a realistic initial asking price for your house.

1. Review the Local Housing Market

The local housing market may favor buyers or sellers. Fortunately, if you analyze the local housing sector, you can differentiate a buyer's market from a seller's market – or vice-versa – and price your house accordingly.

In a buyer's market, there is an abundance of quality residences and a shortage of buyers. And if you're operating in a buyer's market, you may need to price your house aggressively to stir up interest in it.

Comparatively, in a seller's market, there is a shortage of quality residences and an abundance of buyers. In a seller's market, you may be able to generate lots of interest in your house, even if you set an above-average price for it.

Regardless of whether you're operating in a buyer's or seller's market, you should assess housing sector data. Find out how your residence stacks up against available houses in your city or town that are similar to your own. Then, you may be better equipped than ever before to set a competitive initial asking price for your home.

2. Conduct a Home Inspection and Appraisal

By performing a home inspection, you can receive comprehensive insights into your house's condition. Following an inspection, you can prioritize home repairs. Plus, you can use an inspection report to help you determine how to price your residence.

In addition, you can conduct a home appraisal prior to listing your residence. Thanks to an appraisal, you can receive a property valuation. And as a result, you can use this property valuation to price your house appropriately.

3. Consult with a Real Estate Agent

A real estate agent understands the ins and outs of the housing market. Thus, he or she can help you establish the right price for your house.

Ultimately, a real estate agent is unafraid to be honest with a house seller. He or she will teach a seller about the housing market and provide unbiased recommendations about how to price a residence. Best of all, a real estate agent will promote a house to prospective buyers and ensure a seller can get the best price for his or her home.

Let's not forget about the assistance that a real estate agent can provide during a negotiation, either. A real estate agent is happy to negotiate with a buyer on your behalf. As such, a real estate agent can help you optimize your house sale earnings.

For a home seller who wants to determine the right price for his or her house, it helps to prepare as much as possible. If you take advantage of the aforementioned tips, you can establish a competitive initial asking price for your home and boost the likelihood of enjoying a fast, profitable house selling experience.

About the Author
Author

Marc Brandt

Marc and his wife Susan moved to Florida permanently after owning a winter home in Naples for over 14 years. After joining Waterfront Realty Group, Inc. over 4 years ago, Marc quickly became a top performer among over 150 agents. Marc's knowledge of the area and all the contract options gives him a leg-up and helps close deals to create satisfied customers. Marc is one of only a few agents that achieved getting his broker license and the following important designations: 

REALTOR, CLHMS (Certified Luxury Home Marketing Specialist), CCIM (Certified Commercial Investment Member) Candidate, SRES (Senior Real Estate Specialist), GRI (Graduate Realtor Institute), CNE (Certified Negotiation Expert).

Marc is a 30+ year business veteran having previously owned and operated a sports marketing, commercial printing and digital book publishing firm in the nations heartland - Iowa and Illinois.

Success comes from years of sales and marketing experience and from understanding customer's expectations and providing superior service. Whether selling your property, leasing your commercial investment space or in search of that first vacation retreat, Marc understands what the customers objectives are by (1) asking several important questions and (2) by listening and clearly understanding the answers.

Please check in on Facebook, LinkedIn, Pinterest, Instagram, Twitter and search for any property at: www.MSKProperties.US