How To Set Your Asking Price When Selling a Home in College Station

Set Your Asking Price | model home and calculatorWhen selling your home in College Station, you will obviously want to get a great price for it. However, you don’t want to price too high and scare off potential buyers, nor do you want to price too low and lose out on thousands of dollars.

There are proven methods and strategies we would like to share in this blog. Keep reading to learn how to set your asking price.

Know Your Market

Know Your Market to Set Your Asking Price

Do some research and find out what similar homes in your neighborhood are being sold for. If you have the time, check seasonal trends, and list your house when it would sell high. Look up homes that are actively listed on the MLS, Zillow, and For Sale by Owner sites.

Take note of how long the properties have been listed.

If you have listed your house for a while without getting a buyer, then the price you are asking for is probably high. It’s just like demand and supply, buyers will be at an advantage if there are many homes on the market.

Likewise, you can request for a more detailed Comparative Market Analysis (CMA) from a couple of real estate agents. Many of them will offer this free of charge, as a marketing technique. Requesting a CMA should not put you under any obligation to the realtor. They might even have a buyer for you!

Be Realistic

You may have a price that you want to sell the house for, but you need to make sure that it’s realistic. Depending on your market, buyers can be savvy because they may have several options. You may want to get a good price for your home, but buyers also want to get a good deal. Sweetening the pot is the trick. You don’t want to price your home too high and have to make multiple cuts to the price.

Your asking price shows on the MLS, and by repeatedly changing it, you can start to look desperate. Potential buyers can begin to think that there is something wrong with the house. A good rule to follow is to only allow for one drop if necessary.

It might be helpful to have a professional appraisal done, so that you can make sure that your asking price is realistic.

Ask Opinions

Apart from asking for a detailed CMA from a real estate agent, you can also ask for the opinions of friends and family in order to see what they would pay for a home like yours.

You can find a middle ground and additional selling points if you get opinions from several people.

There Can Be More To It Than Just The Final Sale Price

Maybe you can offer a lower price for the home, but the buyer has to pay the closing costs. Or maybe you can get your asking price, so long as the furniture comes with the house.

You do have some bargaining power when finding the sweet sale price for your home. With some clever strategy, you will be able to find a price that works for all parties.

If you have any questions about buying or selling property in the College Station area, fill out this form, and we will be in touch right away! Or call our office directly now! (979) 431-1663

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