How to Price Your Home
The day has finally come: you’re ready to sell your home. You’re ready for more space and perhaps a better school district. But how do you price and list the place you currently call home? Sure, you can use tools such as REALTOR.com to see what other homes around you have sold for. Still, your home is unique in many ways, and you want to take that into account.
How Can You Price Your Home so it Sells?
The bathroom you remodeled last Spring could add an extra $5,000 to your listing price. The new energy efficient windows installed two years ago could add another $1,700. How do you calculate the added value? And let’s not forget it is all about location. How great is your current school district? Is your neighborhood actually trending and becoming more desirable?
With factors such as condition, improvements, demographics, location, and accessibility, where do you start? How can you make sure the place you’ve called home for years is sold for the right price? No matter the amount of apps, tools and blogs that are out there for pricing your home, the most effective tool to use is a REALTOR®.
REALTORS® are the Best Resource for Pricing Your Home
REALTORS® understand the market conditions, are knowledgeable about the location, neighborhood, and school district, and have resources for pricing your home based on condition, improvements and amenities. That’s why homes listed with a REALTOR® average a 27% higher sale price than homes sold by owner (FSBO). For example, a FSBO with a sale price of $174,900 would have averaged a sold price of $222,123 had it been listed by a REALTOR®. Can you say, “new pool with a hot tub at the new place!”
Along with making you more money, REALTORS® help save you time, which ultimately saves you even more money. FSBOs properties average 88 days on the market compared with 69 days when listed by a REALTOR®. That’s a 22% improvement! What could you do with the extra time?
Even though using a REALTOR® saves time and money, the most important thing they save is your peace of mind. Seventy percent of FSBOs said they had major difficulties in the selling process. Many stressors can occur during the selling process that REALTORS® are able to assist with. As an example, REALTORS® are able to provide the sellers with service providers to assist with repairs, legal assistance and financial guidance.
REALTORS® perform over 200 steps and procedures when assisting clients while selling their home. They work with you, by your side, to help complete the real estate transaction and save you time and money. So when you’re ready to make the move, make it a smart move by engaging a member of the Akron Cleveland Association of REALTORS® early in the process.
Leave a comment below or click here to find a local REALTOR®.