Pricing Your Home Right the First Time: 3 Tips
Getting the right price for your home comes down to these three tips.
The real estate market is an ever-changing thing. One day, prices are up, and the very next day, everything has reversed on you. Over the last few years especially, with turbulent markets and economic confusion, the real estate market has become increasingly dynamic. In this era of constant fluctuation, how will you know how much your home is worth?
1. Use the right tools. Online estimators are a great way to get a very rough estimate of where your home’s value is likely to sit. Zillow and other websites offer these services, but the truth is that most real estate teams provide a more accurate online estimate on their websites. While they aren’t perfect, these tools can give you a general idea of your home’s value.
"The real estate market has become increasingly dynamic."
2. Use more recent comps. In the past, it was common to use comparative home sales from the prior six months. Now, more than ever, it’s important to use comps that are as recent as possible. We believe that in today’s market, comps should be no older than three months. Age isn’t the only factor to consider, either. A good agent will look at homes that are directly competing with you and your target market. For example, there might be new construction neighborhoods in your area that could affect your price.
3. Work with the right team. No matter how well you do your homework, nothing beats working with a professional. We have the experience and training to know how to price your home right the first time. We know what amenities and upgrades can net you the best dollar-for-dollar return and how to beat out the competition with the right marketing plan. Plus, we have an online home valuation calculator that is more accurate than anything you can get on Zillow.
If you have any questions about this topic or real estate in general, don’t hesitate to call or email us. We would be delighted to serve as your resource for all of your real estate needs.