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Setting a Price for Your Home

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It’s a big decision with a lot of factors, but don’t worry — you have backup.

Everything has value. Especially your home.

And when it comes to selling your home, assigning a price to that value is complicated. You made memories there. You’ve got a major financial interest in the place, too.

Buyers think of value, but they’re more concerned with price. And your home’s price is one of its most attractive — or unattractive — features. The right price can attract buyers, quickly. The wrong price may mean the house sits on the market, which can create the vibe among buyers that there’s something wrong it. (If the home buying process is Instagram, think of a wrongly priced home as a photo that isn’t getting any likes.)

It’s your agent’s job, as the real estate expert — mining his or her expertise and knowledge of the market — to determine the best price for your home. But it’s your house. You need to have your own idea of how much your property is worth. Here’s how to get it.

Work With Your Agent

This is crucial. Your agent brings the right mix of industry expertise and knowledge of your local market to the table.

To understand whether your agent is pricing your home properly, read through each of the steps below. Use what you learn about your home’s fair market price to evaluate any price your agent recommends.

Throughout the pricing process, a good agent will:

  • Listen to your needs
  • Take into account your research
  • Use his or her knowledge of the local market to help you pick the best asking 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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