When you decide to sell your house, one of the biggest hurdles you have to deal with is determining the perfect listing price. Whether you are selling the house yourself or using a real estate agent, it is always difficult to come up with the best price.
If you are having trouble learning how to price your house, here is a simple guide to help you through the process.
Do Your Own Estimates
Currently, there are dozens of free online real estate calculators that you can use to estimate the price of your house. These calculators will estimate the market value of your house using the millions of data points that are computed daily on different online real estate platforms. All you have to do is key in the details of your house and your address.
If your house is in San Diego County, you can ask for assistance from us, Trusted Home Buyers. We’re a family-owned and operated real estate company that is committed to helping homeowners in the area to sell their homes through a fast, honest, and hassle-free process.
Working with us, you won’t be required to pay real estate agent fees or commissions, as we’re willing to buy your house as-is, with a cash offer, making your home sales cycles quick from start to finish.
Do Comparative Market Analysis (CMA)
If you are using a well-established real estate company like Trusted Home Buyers, we can provide you with a CMA, which compiles all the recent sales in your area. The information will include details of the homes, date of listing, and the last sale price. Even if you are selling your house on your own, you can do your own comparisons by reviewing the information on houses in your area that were sold recently.
And if you experience difficulties, don’t be afraid to seek help from a reputable and reliable real estate agent. Alternatively, you can just hire a licensed appraiser in your area to do the estimates.
Learn From Other Home Sellers
You can find out how much your house is worth by asking other local home sellers for advice or reviewing expired listings in your area to get an idea of how much other similar homes cost.
When you are comparing listings, make sure you compare the original listings with their last sale prices. That way, you will know if the sellers had to reduce their prices to make sales.
Be Competitive
As you determine the price of your house, it’s important to check the current inventory in your area and find a less crowded price point. It is very easy for prices to get huddled up as home sellers try to make their prices competitive.
So, find a way to make your price stand out from the rest without overpricing or underpricing your house. For example, if you notice that most homes in your area are priced at either $550,000 or $600,000, you can take advantage of the open $575,000 price band.
Avoid Vague And Century Pricing
In any kind of business, it has been proven that items priced under a century number, which is a round number like $10, tend to attract more buyers. So, instead of putting your price at $10, you should make it $9.99.
You might be surprised to find a home priced at $599,999 selling faster than the one priced at $600,000. Nevertheless, do not price your house at a random and unclear number such as $622,756 because it is distracting to potential buyers.
While there are some great pricing tips in this article, they might still be confusing, especially if you are a first-time home seller. That’s why it is easier and less risky to work with a reputable, honest, and trusted real estate company like Trusted Home Buyers.
We have a team of experienced San Diego agents who will come up with the best price for your house. We’ll also give you a cash offer for your home as-is and we never charge commission fees.
Keep Reading:
Previous Article: Steps to selling a house by owner
Next Article: House closing process
