The Listing Price for Your Property
As a property owner, you want to get the highest possible price for your property. However, setting an unrealistic price will deter buyers. Your property can be located on the intersection of a motorway and an airport runway and it will still sell if it is priced correctly. If the price is too high, most buyers won’t give it a second thought, which is why you want to determine the listing price carefully.
Setting the right listing price will also attract more potential buyers to your property as well. You’ll also notice an increase in response from real estate agents, and receive more calls about the property.
The value of your property can depend on factors such as:
- The state of the market
- Current interest rates
- The type of property
- The sold prices of similar properties in the area
The best way to price any property for sale is through a full real estate appraisal done by a licensed appraiser. Many sellers ask two or three agents to get an idea. In addition, you can find out about the cost of houses locally by looking at local papers.
It is normal practice for a potential buyer to offer a lower price for the house than the seller is asking. You might therefore want to allow for this by setting your price a little higher than the amount you would like to get.
You should also decide in advance if you are prepared to include any extras in the sale, for example, furniture. A price for these can be included in the asking price or a separate price can be asked in addition.