Some agents suggest you only get one chance to make a good first impression… to potential buyers! And this first impression is largely based on ensuring that the price of your property is effective to secure a quick sale. However, many private sellers tend to inflate the value of their house. The result is the property remains stagnant and unsold, and they have to eventually reduce the price of the house.
To get the most value from your home sale, price it right from the start.
Here are a few easy tips for effectively pricing your house for a quick sale when you don’t want to use a real estate agent.
1: Create a Comparative Market Analysis
When you meet with an agent, they often tell you that the first key to selling any home is to ensure it is priced properly.
The best tool at the real estate agent’s disposal is the ability to create a comparative market analysis. This is usually pretty easy for them. But while agents have access to the multiple listing service (MLS), sellers can use free tools (such as Zillow) to estimate this information.
The first step is to gather the approximate sale prices of homes in your neighborhood. Choose those that are of similar age and square footage, with a similar number of bedrooms and landscaping features.
If you can, find out how much these houses sold for, and how long the process took. Also, compare those listings with others that didn’t sell, in order to see if they were priced too high from the start.
2: Contact an Appraisal Company
Another easy way to figure out the value of your home and set pricing for a quick sale is to have an appraisal company inspect your property and assign a value.
They will use the same techniques as real estate agents to gather information about previous home sales in your area. They also depend on their vast experience in appraising local properties to come up with a solid value recommendation. This, however, is not necessarily a price that you should sell your property for; it just ensures that your property is worth what you are asking, based on the information above. Hiring an appraiser can often cost between $500-$1000, and it will give you a good baseline to effectively price your property for a quick sale.
3: Work with a Real Estate Investor
If you’ve read the above two options for pricing your home and think to yourself, “that’s a lot of work and money to spend,” you might consider working with a company that buys properties as-is. Believe it or not, there are a few reliable and trustworthy companies who will purchase homes and provide their owners with a quick sale of their property without commissions and closing costs. This can reduce your stress, ensure you receive a fair price for your home, and give you the cash quickly to use for down payments or other important needs.
Contact us for a free, no-risk quote. (We’ll just need to get your address and ask you some quick questions about your house.)
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