We begin our look at “Selling Your House for More!” with a practical examination of what the home-selling process is, and how it works. We’ll examine how listing prices are determined, and look at various ways that a listing price is set. I will discuss online valuation, professional appraisal, and the great benefit of a Current Market Analysis (CMA) by a Realtor®. I’m also going to drive home the importance of the seller’s time, effort, “sweat-equity,” financial investment, and working as a team with a carefully selected real estate agent. It’s not a hire-me-and- you-are-done transaction. To get the most money for your house, you’ll have to invest in touchups, improvements, staging, keeping the grass cut, and many other items.
LISTING PRICE SETTING
Setting a listing price is a strategic exercise that aligns the seller’s goals to the selling approach. If the seller is in a situation in which the house must be sold quickly, that calls for a price that will move the home quickly. However, it may forfeit selling for the most money. Where the house is an inherited property and not in the best of condition, but is in a great location, that takes another kind of pricing strategy, and might involve repairs and staging to get the best price. As you see, there are plenty of factors that go into setting a listing price. Therefore, it’s critical for home sellers to know the considerations that determine a home’s price. There is both an art and a science in setting a listing price. Setting the price at which to sell your home is not a formula, nor simply mathematical. There are many factors that go into the decision — for example, location (even location on the same street), condition, features, and unique amenities.
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