Deciding on a price is perhaps the most important and difficult step in the home-selling process. Too high a price scares off prospective buyers before they even see your property, creates the impression you’re unwilling to negotiate and can keep your property on the market for a long time, weakening your negotiating position. Too low a price, and you risk throwing away thousands of dollars or sending the message that there’s something wrong with your property. Ensure that you set the best fair price with the help of a real estate agent.
Do-it-yourselfers are essentially guessing when establishing their selling price themselves. They may have little or no knowledge of market conditions or home-buying trends. As well, homeowners may find it difficult to be objective about their home’s value, often asking for too much because they’re factoring in sentimental value.
Professional real estate agents, however, offer objective opinions about your home’s worth. They’re able to help you establish a fair price based on your home’s value to potential buyers, rather than its value to you and your family.
Real estate agents also offer extensive knowledge about the social and economic factor that will have an impact on the market value of homes in your neighborhood. For example, there may be a trend of larger families moving into your area; this will make homes with three and four bedrooms and spacious yards more valuable than bungalows or condominiums. If a large employer is about to open a plant in your neighborhood, demand for housing will likely increase, and prices will follow suit.
Armed with a real estate agent’s years of training and expertise in these areas, you have a much greater change of selling your home at a fair price – which means a quick sale for you!