By: Neeraj Varma
Setting a price is probably THE most important decision you
will make when selling your house. A solid pricing strategy
will sell your house quickly and for the most money
possible. The following will help you get set the RIGHT
price:
1. Know the market:
First go through the Internet or the local newspaper and
find out how much houses are selling for in your area.
Next phone a realtor and make a deal so she gives you the
actual selling price of houses in your area. The actual
selling price is a better indicator of what your house is
worth rather than the price of unsold houses. If you intend
on selling your house on your own, let the realtor know up
front. If you do a good job on the marketing, you will get
lots of people coming through your house for viewings. Let
the realtor know that you will refer those people to her in
exchange for the help.
Knowing what price houses are listed for vs. what they are
actually selling for, will help you formulate a good
negotiation strategy.
Look at the actual listed and selling prices for the past
six months within a mile of your house. Make adjustments
based on their features to come up with a price for your own
house. Your realtor can help with this.
2. Don't over-price!
People often feel their house should be worth more because
they have fixed things up, customized certain features or
greatly improved the appearance. Unfortunately, your
competition has also done similar things. For example, you
may have done a fantastic job on the porch in the back yard,
but a buyer may consider one porch the same as another. She
may not want to pay extra money for yours, even though you
have done a better job.
If your price is too high compared to SIMILAR houses, your
house will just sit there and not sell.
You will get more anxious as the weeks roll by. In the end
you may take a lower price than you need to, just because
you are tired of the whole thing.
Buyers often ask how long your house has been on the market.
If it has been too long, they will assume there is something
wrong with the house. You will start getting offers lower
than market value. People will think that you would be
desperate to sell because it has been so long.
If a house sits on the market too long, it gets tainted with
seeming to be of poor quality.
3. Don't under-price your house.
Most people don't understand the true value of the
improvements they have done over the years. You may be
sitting on a goldmine. Simple fix ups like re- painting or
cleaning up a spare room may increase the value more than
you think. For information on the most profitable repairs
and renovations go to:
http://netman-ecommerce-guru.com/fix-up
4. Don't go by the City tax assessment notice. In a market
where prices are generally increasing, there can be a
substantial difference between what the City thinks your
house is worth and its real value.
The best thing to do is to hire an appraiser to do a formal
appraisal. If the buyer tries to get the price down you can
show him the appraisal as an objective analysis of how much
your house should sell for. Spending a couple hundred
dollars on an appraisal may save you thousands in return.
5. Don't take the realtor's evaluation or the appraiser's
analysis the TRUTH. These are just guidelines. A good
marketing plan can net you several thousands of dollars more
than people may think. You can get detailed information on
marketing your home:
http://netman-ecommerce-guru.com/home-selling-secrets
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For FREE info on selling your house for a higher price,
email: real-estate-info@... or go to:
http://www.mortgage-rate-canada.com