What Is the Optimal Listing Price for Your Home?

by Joyce Powers 09/29/2019

As a home seller, it is important to establish a competitive initial asking price for your residence. Yet determining the right price for a house sometimes is difficult.

If the price of your home is too high, for example, your residence may linger on the real estate market for an extended period of time. On the other hand, if the price of your house is too low, you won't be able to maximize your home sale earnings.

Ultimately, there are several things that you can do to determine the optimal listing price for your home, including:

1. Conduct a Home Appraisal

A home appraisal provides valuable insights that you can use to price your house competitively. If you conduct an appraisal prior to listing your residence, you can obtain a property valuation. Then, you can use this valuation to establish the ideal listing price for your home.

As you search for a home appraiser, be diligent, too. Employ a home appraiser who possesses comprehensive industry expertise and can perform a house evaluation at your convenience. By doing so, you may be better equipped than ever before to receive a data-driven house appraisal without delay.

2. Evaluate the Local Housing Sector

Take a look at the local housing sector – you will be happy you did. If you assess the prices of available houses in your city or town that are comparable to your own, you can use this information to see how your residence stacks up against the competition. Plus, this information could help you determine the optimal initial asking price for your residence – something that may lead to a successful house selling experience.

Don't forget to evaluate recent home sales in your city or town as well. This information can help you determine whether a buyer's or seller's market is currently in place.

3. Hire a Real Estate Agent

If you are unsure about how to price your residence, there is no need to stress. In fact, real estate agents are available in cities and towns nationwide, and these housing market professionals can make it easy to determine the optimal listing price for your residence.

A real estate agent typically will meet with you and learn about your house selling goals. Also, he or she can provide tips to help you upgrade your residence before you list it. A real estate agent can even offer a listing price suggestion.

Furthermore, as you navigate the home selling journey, a real estate agent is ready to assist you in any way possible. If you are uncertain about whether to accept a buyer's offer to purchase your residence, for instance, a real estate agent can provide an expert recommendation. Or, if you have questions about the home closing process, a real estate agent can answer them.

Want to optimize your home sale earnings? Use the aforementioned tips, and you can establish a competitive price for your house and increase the likelihood of enjoying a profitable home selling experience.

About the Author
Author

Joyce Powers

 After leaving a successful career in the financial industry, I did much soul-searching and found myself drawn to the real estate industry. When you consider that the most important investment most people make is their primary residence, I thought this would be a perfect second career for someone with my background.

I became a licensed NYS Realtor and I am currently a NYS Licensed Associate Real Estate Broker affiliated with KMS Realty Group and a member of the Staten Island Board of Realtors. I've also obtained the following Designations and Certifications: ABR (Accredited Buyer's Representative), CIPS (Certified International Property Specialist), CNE (Certified Negotiation Expert), CSSP(Certified Short Sale Professional), GREEN (National Association of Realtors GREEN Designation), SFR (Short Sale and Foreclosure Resource), SRES (Seniors Real Estate Specialist). Since 2010 I've been a Top Producer of the Staten Island Board of Realtors. I’ve also served on various committees at the Staten Island Board of Realtors, including the Grievance Committee and the Professional Standards Committee and I'm currently a Director of the Staten Island Board of Realtors.

As a professional full-time Realtor, I will guide you through one of the most important financial decisions you will make - whether it is buying or selling your home or investing in real estate properties. I will be by your side every step of the way.