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STEP 2: LISTING PRICE

A big decision you will need to make is at what price to list your property for sale. The factors that go into properly listing your house for selling at the best possible price, and quickly, are quite numerous. Some examples include:

What have other properties in your area sold for recently?
How do those houses compare to yours?
Are there many properties still on the market in your area that you will be competing with?
Is your house located in a more, or less, desirable area?
Does your property have amenities that are currently popular?
Have you properly maintained your house, making it more presentable?
Are all of the features to your house working correctly?
Will everything in the house the potential buyer views transfer with the sale (ex: appliances)?
If there is a glaring weakness to your house (ex: the furnace is extremely old), are you willing to offer to replace that with a qualified buyer offer?
Are you willing to offer a home warranty?

If your property is not maintained well, has outdated appliances and fixtures, is located in a less than desirable market area, and you are not willing to do anything to help the buyer out, your price should reflect something beneath the value of the competition, or it will sit there. However, if your home is in generally good condition and you are willing to work with the potential buyer, it can, and will, sell for a great price.

There is a form called the Seller’s Disclosure (SD) form. This is a form that needs to be filled out by you. It goes through the house from top to bottom looking for any maintenance issues that you are aware exist in your property. If you know something is wrong, you really need to inform the buyer or it could damage the validity of any agreement reached between the parties.

Too many times sellers have unrealistic expectations of what their house is going to sell for at a particular time. The marketplace dictates price. Not the seller alone, not the buyer alone, and not the realtor.

New buyers do not concern themselves with how much the owner has into the property. They are actively looking at the current marketplace from which to purchase from, and the seller needs to fit into what the buyers needs may be. If there are many properties on the market to choose from, the buyer is in a stronger position, and if it is the opposite, the seller is in a stronger position.

At Win Win Realty our major goal is to get the deal done. That often means when we are representing a seller and determining the listing price for a particular piece of property, we need to consider all options available to get the price right.

The owner could consider paying a local appraiser a fee to determine the value and make that another part of the consideration of what the correct asking price should be.

It is important for the seller to understand that the value they think it is worth prior to the research being done does not mean it will sell for that price. The price ends up becoming whatever a willing buyer is going to pay to a willing seller for that property based upon the circumstances at the current time and in the current marketplace.

Sellers should not be discouraged however, because there are many small upgrades/improvements that can result in much better offers from buyers. They are covered in our next step – Marketing.

STEP 1: Sell vs. Rent

STEP 2: Listing Price

STEP 3: Marketing

STEP 4: The Deal

STEP 5: Sale Preparations

STEP 6: The Closing

 Download full guide here
 



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