Top tips on setting the Listing Price of a property

There is no perfect listing price as such at anywhere, or written in any book. You have to study the overall market phase, understand with experience by dealing with different types of properties and use your psychology in these tactics. If you take the help of a real estate professional in setting the right price for you then here are some of the things he will look at:-

Study the market prices

Your agent will try to study the prices of similar homes in that area, list out all the sold properties from the past few months. He shall conduct research on the fact that for how long the properties were listed on the market, at what range and what was the final selling price!

Check for possible rise in interest rates

He will also consider checking on the national factors that possibly raise the interest rates. Whether the market trend of your neighborhood is rising or falling. Are there any new companies moving in this area in the near future or are there any plans of any development for improving the local amenities as these parameters can increase the value of the home considerably.

Price of your neighbour’s house

If any of your neighbours have sold their respective homes for a higher price, which has the same size and age like your home, chances are you may or may not get the same rate. You may get a lesser rate if the driveway or outer side of the house is not in exact condition. Whereas your home may get you higher value due to your neighbors curb appeal.

Don’t overprice or underprice

Fixing just the right price for your home is sometimes critical to selling it quickly as you may not get the best price for it. In some cases, people overprice their home and then further drop the rates while the house is sitting on the market for a long time leads to a lower impact on the final sales. Therefore, keeping the price appropriately from the beginning will lead to a better prospect in terms of return.

So consult a thorough property professional who will set the perfect listing price for your home by taking all the factors into consideration.