Are you watching neighbors sell their houses for tens of thousands of dollars over asking and wondering if it’s time for you to cash-in too? “Don’t just slap a price on your house and try to sell it yourself,” says Danielle Sette and Jessica “Jessi” Davidson of ERA Justin Realty’s Team Sette Davidson, “Enlist a professional real estate agent to price your house.”
Here’s why: Doing it yourself could cost you time and money in the long run. Like Goldilocks and the Three Bears, your price can’t be too high or too low. It has to be just right. “There are several factors to consider when pricing your house to sell,” says Jennifer Darby Metzger, Broker/Owner of ERA Justin Realty, “Weighing these factors will ensure that you’re not overpricing or underpricing your home.”
Here are the top four factors to consider when settling on a listing price.
Value of Homes in the Area
You will need to take a hard look at the recent sales in your neighborhood. “A knowledgeable real estate agent will provide you with a list of recent sales that are comparable to yours in terms of the number of bedrooms, bathrooms, location and more,” says Sette.
Just because your house has the same number of bedrooms and bathrooms as the house down the street doesn’t mean it’s worth the same. “Updated kitchens and bathrooms factor heavily. If yours are not updated, you can’t ask as much as someone who just remodeled,” says Darby Metzger.
Where Prices are Headed
It’s a seller’s market right now, but that doesn’t mean it’s going to stay that way forever. “An experienced agent will take rising mortgage rates and inflation into account and make sure your home is priced to sell,” says Davidson.
Pricing your home at fair market value will boost buyer interest in your home. “There are currently more buyers than sellers, but houses sell when the price is right whether the market is hot or cold.” If you’re thinking about listing your home for sale, Team Sette Davidson or any of the agents at ERA Justin Realty can help you get top dollar for your property. Call us at 201-939-7500.