You are planning on selling your home soon, and you’ve picked the right agent. As the listing date approaches quickly, you are prepping, cleaning, and painting. There are so many things going on, but now is the time to dig deeper into the listing price of your home. Depending on inventory, competition, and demand there are a lot of things that can effect that price. As you get closer to finalizing the listing, there are some questions you’ll want to ask your agent.
What’s the highest price my house could obtain based on its size, location, and space?
Its known fact that you can’t pick up your home, add a bedroom, and wish an extra bathroom all just magically happen. But with a better understanding what a fully renovated home with broad market appeal would sell for, will help be better informed about your price range, and you can work backwards from there. The layout of the home and the lot size, play a major role in pricing home just from that prospective.
Based on the list price we choose, how long can I expect to wait before recieving an offer?
There is no magic answer here, but when choosing the list price the discussion should be transparent and ongoing. While price isn’t the only determining factor to get offers, it is an important factor. If you go on the low end of the price range, than expect to see offers quickly. Going low can even increase the number of total offers. If you choose to go higher, expect sometime before you get your first offer, and less offers overall.
Your open house strategy and your broker’s open house strategy?
Every real estate market is different, so what worked for your Uncle Bob in Florida may not work in your smaller suburban town in the Midwest. Agents will tell you that open houses don’t work. Others will advocate for them every weekend. Find out what other sellers are doing by studying the market yourself (knowledge is power), and a One-size-fits-all may not be the best approach.