If you’re planning on selling your home, align yourself with a reputable agent who can walk you through the sales process while giving you marketing tips and other advice for ensuring a smooth and seamless transaction.
One of the most important parts of this process is being able to price your home accurately. If you price your property too high, this could end up stigmatizing your listing. A home that is on the market longer than 30-45 days has less chance of selling close to the listing price. Sellers who set their prices too high and then lower them, diminish the marketability by causing prospective buyers to wonder what might be wrong with it. The best way to evaluate the selling price of your investment is to review recent, local sales records.
Sales data for homes of a comparable size with comparable features and amenities can easily be found in the local tax records, and simply make adjustments based upon differences in property features. Be cautious of using online real estate sites since they do not have close sales data. The algorithms may not be able to accurately predict market value based on the limited information. Using the sales data found in the tax records is the most accurate way to arrive at a selling price.
Your bottom line is the negotiating point at which neither the buyer nor the seller is willing to budge, and no acceptable compromises can be made. Having done your research, you can always share your sales data to sway the position of a prospect. Compromising too much, however, will invariably cause you to cut your profits.
Additional purchase terms may be relevant to you as well. For instance, it could be necessary for you to have a quick closing. If this is the case, you should work with someone who is willing to schedule closing according to your needs, rather than someone who is willing to offer more money however with a longer due diligence period. Understanding and prioritizing your needs is an essential part of getting the sales terms you want.
If you are ready to sell and want a comprehensive market analysis on your home, contact us today.