Selling your home can be a bit tricky. There’s a handful of things to consider—getting your property listed, remodelling your home, dealing with paperwork, and working with your real estate agent. However, one crucial factor to the overall home selling equation is pricing your home. At the very least, you want to get a reasonable price for your property that reflects its actual value and condition. If not, you want to gain the highest offer possible, which can make your home-sale an investment.
Below are five effective ways to price your home that can truly attract the highest offer:
- Check comparable homes and price competitively
When it comes to selling your property, the rule of thumb is not to go too high or too low. Some home sellers go way high with pricing for the sole purpose of trying to get a high return. Others go too low just to be able to sell their properties. It’s best to check the value of your property and compare it with other similar homes in your community. It means that you have to perform due diligence to know the standard market price of your home. From there, you’ll be able to price it competitively especially in the case of a down market.
- Be strategic with your price points
As far as home pricing is concerned, it pays to be strategic with pricing points. Typically, it helps to raise or stretch the price range. Think about how you will more likely buy a grocery item at $4.99 instead of $5.00. This pricing strategy, too, applies when setting the price of your real estate property. For instance, if you list your home for $300,000, you may attract a higher price offer. However, if you’re going to price your home at $225,900, you will most likely sell your property around that price.
- Use value range marketing
Another great strategy for home pricing is the use of value range marketing. Value range marketing is a pricing technique designed to bridge the gap between your high opinion of value and your buyer’s “low-ball” mentality. You’ll kick off with a listing price based on what you’ll more likely sell your home for. You’ll then choose another lower price to keep your mind on the middle of where you will likely end up in house pricing.
- Provide incentives, discounts, and prepaid options
Most buyers who have narrowed down their buying options just need a little nudge to make a final purchase decision. To convince them to do so, you can pull off some trick up your sleeves. Entice your prospective buyers to agree on the final pricing by offering incentives, discounts, or prepaid options for certain services. For instance, you may agree to provide incentives for a home inspection or closing cost. You may also prepay for services, such as internet connection or homeowners association’s fees.
- Hire the service of an experienced listing agent
If you are clueless on how to proceed with pricing your property, the best way is to hire an experienced listing agent. A real estate agent knows the local market and understands pricing in a deeper way. That said, make sure to sit down and discuss with your agent to arrive at reasonable pricing for your property. While you’re at it, discuss effective strategies to attract the highest offer.
Pricing your home can be a bit tricky. Consider some of the valuable tips outlined above—check comparable homes, strategize your price points, use value range marketing, offer incentives and prepaid options, and hire a listing agent. With these strategies in mind, you’ll be surprised at how quickly you can sell your property and get top dollar when selling your home.
If you’re looking for a top-rated real estate agent in the Cloverdale Surrey area to help you price your house, get in touch with us today! We’re happy to help.