The price you put on your house when you list it with a real estate agent will play a big role in how fast you sell it. Your real estate agent may give you advice about the price you should ask for your house, but there are several things you can also do to come up with the right price. Here are a couple different steps you can take to find the perfect asking price for your house.
Look up comps
Comps are homes that have recently sold in your area that are similar to your house. If you spend some time looking for comps in your area, you will be able to get a good idea of the price homes are selling for. As you search for comps, make sure the houses you select are similar in type and size, and look for homes that are located in neighborhoods that are comparable.
A good method to use when viewing comps is dividing the selling price by the square foot. This will give you something to compare each of the homes with, and it may help you set the right price for your house based on the average cost per square foot of the comps you viewed.
View current homes for sale
The other thing you can do is look up current homes for sale that are similar to yours. As you do this, look at the asking prices of these homes to see if there is a gap in the range you are considering asking for your house.
For example, if your home is worth around $175,000, look at other houses near this price range. By doing this, you will see what is currently available, and you may find a gap in prices.
For example, you may notice there are a lot of homes in the $160s and the $180s, but there are very few in the $170s. Because of this, you might want to ask $179,000 for your house. By doing this, people looking for homes under $180,000 will see yours, and this price will give you some room for negotiations.
Your real estate agent should also be able to give you tips and answer any questions you may have about the asking price of your home. Selling a house can take time, but you might be able to sell it faster if you list it at the right price from the start. To learn more, contact a real estate agent (such as one from Haring Realty) in your city.