Real Estate Agent in East York - Better Homes And Gardens Real Estate

How to Decide on The Right Sale Price For Your Home and Why That Number is Such a Big Deal

23 March 2018
Kevin Hartley

Have you been considering selling your home? Thinking about the process for a long time can make it seem a bit overwhelming. There are so many things involved in selling a home, such as photos and listings, to open houses, bids from prospective buyers, and counteroffers, it all can seem stressful at first. One of the most significant decisions to contend with is setting the selling price for your home. I'll tell you what to consider when setting an amount so that it will be enticing to buyers.

The Most Important Aspect is YOU

More than anything else, you are the most critical aspect of your home's sale price. Understanding what is important to you will help you make a decision. If you need a faster sale because of time-sensitive life changes, you may want to list for lower. In contrast, if you have the time to wait for the right buyer, you can list for a higher price that is closer to the market value.

Do Your Research Locally

The next thing you should do is find out more about your local real estate market. Knowing about the local market can help you get an idea of the right price range. You can look at recent home sales in your neighbourhood and ask yourself a few questions. What did they sell or compared to the asking price? Are there a lot of listings in the market, to the extent that it is saturated, or fewer listings that would create more pressure on a potential buyer to lock in a deal.

Real estate markets are always finicky and will play a huge role in choosing the right price, so make sure not to disregard what is going on in the market.

Greed is Not a Good Thing

While the best possible scenario you could hope for is a quick sale at a high price, that is often very different from the reality. Sometimes when the bids come rolling in, the offers are all much lower than what you want. Sometimes, offers may even be difficult to get. Whatever happens in your case, bear in mind that being greedy will not help you. Remember that the goal is to sell your home.

If You have Trouble, Consult a Professional

If all of this just seems like too much to handle on your own, don't worry. The right decision is to get touch with someone who has extensive experience. When you're ready to start moving on this, just reach out to me. I'm happy to share what I know about the market in your area and give you advice on the best price that will help get your home sold quickly.

Thanks for reading. Questions or ideas for a future blog? Feel free to contact me here.

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Kevin Hartley, Broker is a Toronto based real estate Broker with Better Homes & Gardens Real Estate | Signature Service, Brokerage. @Home is his lifestyle blog, an expression of his passion for home keeping though MAKING (Recipes), DOING (DIY), BEING (Health/Wellness) and DWELLING (Home Ownership, Sales & Maintenance).  Content not intended to solicit clients under contract.

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