As a seller’s real estate agent, you work on behalf of the homeowner to ensure they land the best deal on their property. One of the key responsibilities to ensure a successful transaction is listing the home under its proper market value. While a number of factors contribute to pricing a home, here are a few that can help you ensure they get top dollar.
3 Tips to Help a Seller Determine a Price for Their Listing
1. Consider Similar Listings
Pull up listings of other homes in the immediate neighborhood that have been listed and sold in the past few months. Look for houses with similar age, square footage, and design. Avoid properties in areas with a higher crime rate even if they are only a few blocks away as this can drastically impact the price. Adjust your estimates if you have amenities such as energy-efficient upgrades, an in-ground pool, or a deck.
2. Schedule a Pre-Appraisal
While a buyer will hire an appraisal specialist to determine the value of the property, it’s beneficial for the seller to schedule a pre-appraisal before listing. This will give the seller a chance to make any necessary repairs that the buyer might otherwise use as a negotiation tool.
3. Evaluate Real Estate Market Conditions
Market conditions also play a major role in pricing a home. For instance, a seller’s market is when demand exceeds supply. As a result, there are more buyers making competing offers, so the seller can land a higher price on their home. The season may also play a role, as there are more buyers during the spring and summer.
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