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Setting a Realistic Listing Price For Your Home

Once you have decided to put your house on the market, the most important thing to consider is pricing the house correctly. A house that is properly priced will sell faster – and for more money – during the first weeks of listing, than a property with an unreasonably high price tag.

Some sellers believe, when setting the listing price high, that they can always come down at a later date. However, buyers will avoid these properties in favor of looking at similar listings within their price range. The seller will lose out on showings, as well as offers, and the house will still be on the market long after its appeal has waned.

By setting a more competitive listing price, a property will get more attention from potential buyers right after its put on the market. These houses often receive multiple offers, as a result of the increased exposure, driving up the sales price.

When deciding on a listing price, have your real estate agent run a competitive market analysis of your home. This analysis will provide you with data on what similar properties in your neighborhood sold for. This information, along with other factors such as upgrades to your home will allow you to estimate the fair market value of your house and a reasonable listing price.