The Price Is Right! 5 Excellent Tips to Help You Set the Perfect Price For Your Home

family looking at homeIf you’re looking to sell your home, you’ve probably already accomplished many of the recommended tasks like sprucing up your curb appeal, giving your interior and exterior a fresh coat of paint, meticulously cleaning your home, and staging your home. When it comes to selling your house, though, money talks. No matter how nice and clean your home is, it won’t matter if you list it at the wrong price.

Determining your asking price is one of the most important decisions you’ll make when you decide to sell your home. If you price it too high, potential buyers will more than likely ignore the listing, and when you eventually lower it, you could be perceived as being a desperate seller and that there could be room for negotiation. On the flip side, if you price your home too low, you could be missing out on the price that you deserve for your home. What’s a seller to do?

If you want your home to sell quickly and successfully, follow these 5 tips below!

Start Researching – Before you even think of writing down a price for your home, you need to do some research. Check out your local market – what are the trends you’ve been noticing? There are many sites out there that can help you find recently sold homes that are comparable to your own, along with home value trends, foreclosure statistics, and price-cut information. All of this information will definitely help you set a solid price based on your local market conditions.

Scope Out the Competition – Now that you’ve got the 411 on the local market, check out the houses that are for sale in your home. Are there a lot on the market? What price point are they being sold at and in what type of condition? Try to find a home for sale that’s both similar to yours and has been sitting on the market for a while. It usually means that buyers don’t think that the home is priced correctly for the market. Once you see that it’s sold, figure out how much above or below the list price it was sold for – it will give you a good idea on how you should set your own price.

Get an Inspection – Though buyers are usually the ones who hire a home inspector, it’s not a bad idea for you, the seller, to consider doing the same. A licensed home inspector will go through and ensure that the various symptoms in your home are working properly, including your electrical, plumbing, heating and cooling, roof, and others. With this information, you can either work to fix the problems or, if your systems are in good shape, you can use it as a marketing tool to pique the curiosity of potential homebuyers.

Ask Your Agent – That’s right! You can count on your real estate agent to help you pinpoint the price that’s right for your home. Your agent will know what buyers are looking for in your market and how much they would be willing to pay. Have an open and honest conversation with your real estate agent – you can’t go wrong!

Be Realistic – When it comes to our homes, we tend to have a very sentimental attachment. It can be easy to put too high of a price on the home, which will wind up deterring potential homebuyers. As hard as it might be, try to put yourself in the buyer’s shoes. Would you pay that much for your home? If not, try to figure out a lower price that is both favorable to the buyer and to you.

Remember tip #4? If you’re not sure which real estate agency to trust, we have the answer – The Massey Team at Berkshire Hathaway HomeServices Elite Properties. We’re made of a caring, trustworthy, and knowledgeable team of agents who are dedicated to making sure you sell your home for the best price and that you also get the home you’ve always dreamed of living in. Call us today at (618) 791-5024 or (618) 791-9298 to talk to an agent today, or learn more about us online at!