When it comes to selling your home, setting a proper listing price is one of the most important factors to take into consideration when it comes to putting your house on the Nashville market. Price too low and you won’t make as much money from the sale that you potentially could of. Price too high and the chances of selling your property (especially in the time frame that you would like) becomes less likely. Here are some tips to pricing your home to sell in Nashville, TN:
1. Don’t Do It Yourself:
The last thing you should do is price your home based on what you think its value is. What you think your home is worth may not be the same as what a potential buyer thinks and may skip on the sale if they feel the price is too high. Since prices in real estate fluctuate greatly in short periods of time, when setting a listing price for your home, you should get an appraisal from not just one, but several, real estate agents.
The agents will be able to share their opinions on what they think your home will sell for by a number of factors, like the current condition of your home and analyzing the pending (or current) sales of similar properties in your area (through a comparative market analysis). A good listing price for your home will mimic what a similar home in the area has successfully sold on the market for.
Don’t Be Flattered By High Prices:
After getting your home appraised by several real estate agents, you might come across one that gives you a considerably high price suggestion. That isn’t however necessarily what they think your house will sell for. An agent will simply use this as a tactic to get you to choose them (over the competition) to assist in selling your home. Once you do, they’ll insist on lowering the listing price once your home has spent time on the market without any offers — because they know the price was set too high to begin with.
Be reasonable and choose the real estate agent that gives you a more appropriate suggestion of what to sale your house for. This will ensure your time won’t be wasted listing your home for a price that’s not likely to be desirable by many potential buyers.
Take Your Location Into Consideration:
When considering to put your home on the market in Nashville, TN, you should first find out the local real estate trends. Are listed homes actually being bought? For how much? Or are listings sitting unsold for long periods of time even with a reasonable asking price? In addition, another important factor to take into consideration is the previous prices your home has sold for. You know what you bought the property for and your real estate agent can help you find your home’s sale history before you bought it.
Setting the Listing Price for Your Nashville Home
Once you and your real estate agent has decided on an appropriate listing price, the only thing to do then is list your property and wait for potential buyers to come forward. Only then will you know, for sure, if someone will be willing to buy your specific home for the price that’s being asked. To learn more about the home selling process, read our free home seller’s eBook: