Setting a price for your home is both an art and a science. A good real estate agent will have a pulse on the local market and be able to do the necessary research to help determine a reasonable price. Relying on their expertise throughout the selling process is one way to increase the potential of selling your home. Yet, when it comes down to it, the seller is the one that has the final say regarding the listing price. Before making that final decision, consider some of the following factors from professional real estate in Downers Grove IL, Paul Titterington.
Finding the Right Price
The right price for a home is one that a buyer is willing to pay that the seller determines is fair. In general, this is determined by analyzing a number of factors. Comparable sales are one example. A qualified Realtor will research what other homes similar to yours have sold for in the last three to six months. Another factor that is used is the status of the current real estate market. For example, in a seller’s market, you are more likely to get a higher price for your home due to less competition and a higher demand for homes. Other factors include:
An experienced real estate agent will know the local market well and be able to assess these aspects of pricing a home.
A High Price Isn’t Always Best
It is a common thought to simply price the home high in the beginning with the expectation of negotiating later. Although this is a viable strategy, it isn’t always the best option. Homes that stay on the market for months typically end up selling for less. There is a trust factor here. If buyers see that a home has been on the market for a significant amount of time they may assume that something is wrong with it. Buyers’ agents understand that when a seller has had their home listed for a while they may fear that it won’t sell. The potential of lower bids being considered is more plausible in this case. The best route is, generally, to seek a price that is fair and yet competitive right off the bat.
A Realtor You Can Trust
Finding a real estate agent that knows the local market, is capable and willing to put in the research, and that you can trust can be a challenge. Some agents may push for a lower price because they want it to sell quickly. If the primary person that they are seeking to benefit is themselves, you may want to look into other options. A good Realtor will always put the seller’s interest above their own and work towards a fair listing price.
For help selling your home in or around Downers Grove, contact professional Downers Grove IL Realtor Paul Titterington today!