Best Practices for Pricing Your Home

by Vipul Pawani 09/18/2017

Before you list your house, you'll need to establish a competitive price for it. That way, you can increase the likelihood of stirring up plenty of interest in your house as soon as it becomes available.

Now, let's take a look at three best practices for pricing your home.

1. Evaluate the Real Estate Market

The current real estate market's conditions can impact your ability to sell your residence. However, if you study the real estate market closely, you can differentiate between a buyer's and seller's market and plan accordingly.

In a buyer's market, the number of home sellers exceeds the number of homebuyers. As such, you likely will need to establish an aggressive price right away to separate your house from the competition.

On the other hand, a seller's market favors home sellers over homebuyers. If you're operating in a seller's market, you may be better equipped than ever before to earn a significant profit.

To differentiate between a buyer's and seller's market, examine the prices of recently sold homes and available homes in your area. This housing market data can provide deep insights into the current state of the housing market. Plus, this data can help you understand how your residence stacks up against the competition.

2. Conduct a Home Appraisal

Ultimately, a home appraisal can make a world of difference for any home seller, at any time.

During a home appraisal, a professional appraiser will examine your house both inside and out. Then, this appraiser will offer a valuation of your property based on his or her findings.

A home appraisal involves an evaluation of the current condition of your home, your house's age and your neighborhood. Therefore, if you complete a home appraisal, you should have no trouble using the appraisal results to help establish a fair price for your residence.

3. Collaborate with a Real Estate Agent

When it comes to selling a house, there is no need to work alone. Fortunately, if you collaborate with a real estate agent, you can receive expert insights into all aspects of the home selling cycle.

A real estate agent is happy to meet with you and learn about your home selling goals. Next, this housing market professional will offer home pricing recommendations, ensuring you can make an informed decision about how to price your house.

In addition, a real estate agent will go above and beyond the call of duty to ensure you can enjoy a seamless home selling experience. This housing market professional will promote your residence to large groups of homebuyers, set up home showings and open houses and put together an engaging and informative home listing. Also, a real estate agent will always keep you up to date about any offers on your home.

Looking to list your home in the near future? Use the aforementioned best practices, and you can establish a competitive price for your residence and boost your chances of a fast, profitable home sale.

About the Author
Author

Vipul Pawani

Vipul (Veep) M. Pawani, to his clients and friends, is an optimistic and upbeat agent who is assertive and exceptionally motivated to deliver on his clients’ goals. Exclusively serving Woodridge, Prince William County and, Fairfax County, Veep has experience in sales and marketing, which benefits his clients greatly. Currently partnering in a family business of hotel development, Veep draws upon his multifaceted corporate and professional skills when working with real estate. An area resident for 25 years, he credits the friendly people and the family atmosphere as a few reasons why it’s a great place to call home. He is active in his community and is a member of the National Association of REALTORS® The combination of Veep’s honest approach, commitment to customer satisfaction and his knack for business confirm the decisive edge. Professional and experienced, Veep Pawani is here to offer you nothing but top quality service, dedication and success in all of your real estate needs. My website has a ton of resources that can help you search for your new home. Feel free to use my website, free of charge and with no strings attached. If you need representation or just have any questions at all, I’m always here to help. Please call me today at 703-980-0249