Setting the Perfect Listing Price

There’s no online calculator for setting the perfect listing price for your home. It takes experience, market savvy, and even a bit of psychology. The Carl Anderson Team can help you set the right, most competitive price for your home.

Here are a few things they might look at:

Put yourself in the shoes of buyers, who are scanning the real estate ads — or most likely the online listings — trying to decide which houses to visit in person.

The competition Your agent will look at the prices of similar homes in your area that either are currently listed or sold during the past few months. They’ll consider how many days the properties were on the market, and how the listing prices for those homes differed from the final sale prices.

Your home’s sales history. You know how much you chose to pay for your home and probably how it compared to other houses on the market at that time. Think back to when you bought. Did a certain factor, like the house’s fabulous view of the city at night or big kitchen, make you fall in love with it? Although you’re a sample of one, this and other information about your house’s past sales — which your real estate agent can pull up for you — can be instructive about things like whether buyers consistently perceive your house to be more (or less) desirable than the supposed comparables.

Market trends What’s affecting the market in your neighborhood, and your region? Your agent will consider national factors that shape the real estate market, such as possible rising interest rates, as well as local factors, like whether the average home price in your neighborhood has been rising or falling. They’ll also think about things such as new companies moving to the area soon, or plans for improving local amenities, like parks and shopping districts. Everything can increase the value of your home to a buyer.

Your neighbors Although a home the same size and age recently sold for a high price, your own place might not fetch the exact same fortune if, say, junky cars continue to proliferate in your neighbor’s driveway. On the flipside, if the grass is in fact greener on the other side of the fence, your home’s value may be higher due to your neighbors’ curb appeal.

The price Listing your home at a price that’s “just right” from the start is critical to selling it quickly, for the best price. Overpricing your home, and then dropping the price a few times while it sits on the market, could lead to a lower final sales price than if the home was priced appropriately from the beginning. And, of course, setting a price that’s too low leaves money on the table.

Wondering how much your home might be worth in today’s market? Contact The Carl Anderson Team to explain how these and other considerations could factor into a pricing strategy for your home.

Anderson Real Estate Team