Offer it to home buyers

Once you are ready to sell your home and understand the costs involved, it is possible to strike the right balance between a price that is right for you and a price that will attract buyers in your local housing market. Pricing should be high enough to reflect the value and desirability of your home, but low enough to attract buyers in your area.

Additionally, it’s important to value your home strategically. For example, they may decide to lower the price a bit to attract more buyers, possibly instigating a bidding war that ends up with an increased sale price. Or, you can narrow it down to draw a select few buyers who are ready to make the highest, best deals right away.

Working with a real estate professional can help in this particular area as well. Real estate agents and REALTORS® regularly monitor property transactions in your area, so they can provide informed advice on how to best buy your home.

The price of online search ranges

Because home search tools buyers set price benchmarks for homes on the market, setting a price below your preferred price can help attract more buyers. For example, if your home is worth $300,000, listing it at $299,999 will help bring in more buyers and increase demand.

Otherwise, committing to hard numbers can mean home search tools screen your property for potential buyers. Remember, a slightly lower price can bring in potential buyers who are open to negotiating a sale that works for both buyer and seller.

Online search tools aren’t just for home buyers. As a seller, look at homes for sale around you to understand how your price compares to others. If you feel your home has some advantages over other offers, it may drop the price below comparable homes or fall above the average listing in your area.

Consult a real estate agent

It is recommended that home sellers always consult a real estate agent or REALTOR® when determining a price for their home. It’s free, and you can take advantage of their insight into the real estate market and the expert tips and advice others have to offer. Real estate professionals make money through commissions at closings, and their fees are well-earned because of their knowledge of the market in your area and their ability to negotiate.

In addition, real estate professionals list your home on the Multiple Listing Service (MLS), an online database where buyers can find your home for sale. Your agent will also schedule showings and provide pointers regarding the arrangement of your home. As a result, working with a real estate agent can help you sell your home as quickly and profitably as possible.

Although many real estate agents have experience with all types of properties, make sure you work with someone who understands your specific situation and is comfortable selling your property. Single-family homes, condominiums, townhouses, and other property types sometimes have different differences and issues. Therefore, a real estate agent with experience in selling the type of property you have can help you navigate difficult situations.

The real estate agent who helped you buy your home may be a good candidate for helping you sell it. If you don’t have a real estate agent yet, you can collect referrals from family and friends. Additionally, you can search for top-rated real estate agents online or find agents who manage other properties for sale in your area.

Know the market

When trying to sell a house, it is important to know the supply and demand of the real estate market. Whether the market is a buyer’s market, a seller’s market or an independent market will affect how you buy your home.

For example, a buyer’s market is often a surplus home for sale, so the price is set to meet a limited number of buyers. In contrast, a seller’s market has the opposite situation, with many buyers trying to compete with each other for a small number of homes, while a tight supply of homes drives up prices.

If you’re in a free market, the supply and demand for homes are in equilibrium, and neither buyer nor seller has a significant advantage over price. Small details and nuances often dominate, and negotiations are significant.

For example, a buyer who allows the seller to stay in the home for 60 days after closing may have an edge over less flexible buyers. Or, a seller willing to cover the buyer’s closing costs may appeal to more buyers in a stagnant market.