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Researching Home Prices

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There are a lot of home pricing resources out there, and some are far better than others.

When it’s time to sell your house, you may be feeling a little anxious.

A chapter of your life is closing. There’s a lot of money on the table. You may be thinking “Is my house priced too high?” “Too low?” “Am I leaving too much money on the table?” These are big questions.

Luckily, you have a few resources at your disposal to figure out where your house stands among the crowd: a listing agent’s expertise and guidance, plus online property sites to get insight into the market.

So take a deep breath. Then do your homework. The more you know, the more confident you’ll be when it’s time to make those big decisions.

Turn to Local Experts — Because They Really Know Their Stuff

The good news: Local market info is freely available online, so you, the seller, can get a sense of what your house is worth.

The bad news: Local market info is freely available online, so most buyers will also have a general idea of what they think your home is worth.

When pricing your house, a listing agent has your back in a way an online property listing site just can’t. An agent:

  • Has real world experience in your community.
  • Knows the nuances of your neighborhood’s micro-market.
  • Can expertly assess how your home compares to similar ones recently sold in your area.
  • Can tour your property to determine, inside and out, where your house fits in the real estate landscape.

A website will do none of the above.

An agent will, yes, consider online market data to help you set the price of your home. But he or she will also rely on first-hand knowledge about your home’s unique perks (and quirks), as well as about the neighborhood, to better inform your listing price.

You’re a team. It’s in both of your interests to price your home correctly — a timely, profitable sale is win for everyone.

© Copyright 2020 NATIONAL ASSOCIATION OF REALTORS®
Reprinted from HouseLogic.com with permission.

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