How to Price Your Home To Sell For More Money in Less Time

Dated: 05/28/2019

Views: 205

How to Price Your Home To Sell For More Money in Less Time

The best way to price a home is a five-pronged approach:

1.   Study the sold comparable properties (developing one or more Comparative Market Analysis reports) in order to see what homes an appraiser might use to appraise the home. This is very important to know, as many buyers choose to finance their purchase and therefore an appraisal will be necessary to close their loan on your home.

2.   Construct one or more absorption rate charts to see statistically how long similar kinds and locations of homes in each price bracket are sitting on the market this year, and compare to your goals (how long you have to sell your home). If possible, choose the price bracket that is the least crowded (has the fewest amount of homes on the market) or the price bracket that is selling the quickest.

3.   Research what buyers can currently buy for your target price bracket, and use competitive pricing to position your home to stand out as a clear value among those choices.

4.   Offer incentives to buyers to add to the value of your home as a product. Examples are “Quick Close”, “Survey Included”, “Inspections Included”, “Home Warranty Included”, “All Appliances Included”, “5% Cash Discount”, “HOA Fees Paid for First 3 Months,” etc. Ask me about our "Certified Pre-Owned Home" product which can add approximately 4.8% to the value of your home!

5.   After putting your home on the market, if the market is not responding to your home, then be willing to revisit sales stats and reposition your home in the market—this means adjusting the list price intelligently.

By doing these five steps, you will be ahead of the market curve. If your home is priced accordingly, it should sell quickly and for the highest price any buyer will pay at that time. If you have any questions about any of these components, feel free to contact me at:

 

Tom Leber - Realtor

813-420-9963

Tom@FullSaleTeam.com

Tom.HomewardRE.com

Blog author image

Tom Leber

As an agent who's an expert in the Heights community, I bring a wealth of knowledge and expertise about buying and selling real estate in this unique part of Tampa, FL. It's not the same everywhere, s....

Latest Blog Posts

The Five Things That Will Sell Your Home

The Five Things That Will Sell Your HomeWhen agents or FSBO’s put a home on the market, they often just take it at face value and don’t see the potential in it. Any home, no matter how

Read More

How to Price Your Home To Sell For More Money in Less Time

How to Price Your Home To Sell For More Money in Less TimeThe best way to price a home is a five-pronged approach:1.   Study the sold comparable properties (developing one or more

Read More

The 10 Things To Sell Your Home Without Leaving a Penny On The Table

The 10 Things You Absolutely Must KnowTo Sell Your Home Without Leaving A Penny On The Table1. NEUTRALIZEStrong statements of wallpaper and paint may appeal to a select group, but most will see it

Read More

Top 6 Home Organization Upgrades that “Spark Joy” for Buyers

 Thanks to Marie Kondo and her hit Netflix series “Tidying Up,” home organization is a hot topic right now. Marie encourages her viewers to minimize their possessions and keep only

Read More