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Conduct
your own research of Neighborhood Homes
- FREE
- Collect
real estate flyer's of neighborhood homes
to compare to yours (FSBO's and Real Estate
Agent's)
Find out what kind of successes and failures
they've had.
- Pick
up local real estate books and newspapers
to find properties for sale in your neighborhood
- Attend
any "Open House" events of homes
in your neighborhood
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CMA
(Comparative Market Analysis)
A
CMA is an informal estimate of your home's
market value. A real estate agent makes
an analysis based primarily on sales of
comparable homes in the neighborhood. If
you are considering listing with an agent,
they will usually do a CMA for you at no
charge. This will also give you a good idea
of what your asking price should be.
Selling
Your Home?
Let REALTORS® Compete For Your Business!
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Get
an Appraisal by a local Appraiser
$200.00
to $400.00
-
A certified appraiser will come to your
home to perform a physical valuation of
your home at a given point in time. This
is usually very affordable, ranging from
$200 - $400. An appraisal carries a lot
of weight in justifying your asking price
with potential buyers. The appraisal will
give you a very good estimate on a realistic
listing price that is reasonable and competitive.
The
appraisal takes into consideration such
things as:
- Home's
square footage
-
Construction quality
-
Home design
-
Floor plan & layout
- The
neighborhood
- Convenience
to shopping, schools, and transportation
- Lot
size, topography, landscaping and views
Additional
Costs
As you calculate your Asking Price, consider
those extra costs of selling your home
(or preparing your home to sell) such
as improvements, repairs and advertising.
Include budget in your selling incentives.
For instance, you
may want to offer a "cash back at
closing carpet allowance" if your
carpet is old or a non-neutral color.
People love to know they will get cash
back at closing.
Test
the Waters
It's
critical that your home be competitive
in price. Buyers do comparative shopping
and act fast on a good deal. A good priced
home will attract attention and generate
activity from home buyers and brokers.
If you aren't seeing any traffic from
buyers, it is a clear indication that
the listing price is not satisfying the
marketplace test.
Leave
room for negotiation
Buyers
like to know they are getting a good deal.
If you list your house for $250,000 and
refuse to negotiate an offer received
of $245,000, your potential Buyer may
not feel that you are a willing participate
in this "negotiation".
If
$250,000 is your goal for this sale, you
may want to set your price slightly higher
so there is room for negotiation... about
$260,000 to $265,000. But don't price
it too high or you won't get any phone
calls. If you receive an offer an offer
and come down to your desired price of
$250,000 - then your goal is met and the
buyer is also happy to have gotten a good
deal.
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