Your asking price for your property is one of the determining factors of how much profit you will gain from the sale and how long your house will be put up on sale. You should seek the help of your real estate agent who is well versed in this industry so that you can determine the best possible price for your home. Deciding on a reasonable and competitive price is your main target here.
The following are some guidelines in pricing your home:
1.Time
Time is not your ally in this industry. Along with other factors, time will largely determine if you are going to realize profit from your sale and by how much. Research results suggest that a house will not be sold at its original price if it is hanging on the market for a very long period. Thus, when pricing your property, think about the fair market value.
2.Value vs. Cost
You have to weigh the value of your property with the cost homebuyers are keen on purchasing it. Factoring in the cost of improvements in your home should not be stressed and prioritized when determining your asking price. Remember that your preferences may not be the same as your buyers'.
3.Simplicity
As the popular saying goes, time is gold. Accommodate your buyers' requests as much as possible. Be flexible on the time when your real estate agent can set house viewings. Furthermore, do not put any contingency on the sale as it could cause you a botched sale.
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