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How To Price To Sell Quickly

The housing market is an increasingly competitive one, and it’s essential to help your clients price their homes to sell quickly. A typical pricing strategy is to price a house above the fair market value of the home and anticipate a bidding war among potential buyers. This, however, can prolong the selling process and cause homes to sell more slowly.

In a competitive market, however, it’s important to price your clients’ homes competitively to begin with to sell them more quickly. Here are our tips.

Price Compared to Similar Homes

Selling a home is dependent primarily on pricing it based on similar homes in the area. While some real estate agents sell homes based strictly on square footage, this strategy may not be effective in areas where homes are different sizes, constructed in different eras, and have various amenities.

For this reason, you should price your clients’ homes based on an apples-to-apples comparison of similar homes in the immediate vicinity. Take into account the number of bedrooms, bathrooms, size of the property, and size of the house to price it competitively.

Take the Neighborhood Into Account

Neighborhoods and local, desirable amenities can help boost the price of a house or reduce it if those things are challenging to get to or far away. That said, take the overall proximity of these amenities into account when pricing.

Proximity to grocery stores, schools, hospitals, doctors, and parks are all tangible aspects of pricing a home. Additionally, there are intangible parts of pricing a home by neighborhood. These things may be more appealing to potential homebuyers: quality of those amenities. Great schools, grocery stores, and parks may appeal to homebuyers with families or looking to start a family.

Understand Your Market

Probably one of the most critical things to pricing a house to sell quickly is to understand your market and your buyer. Naturally, housing markets differ from city to city but also may vary significantly from neighborhood to neighborhood. Savvy veteran real estate agents understand this and price houses accordingly.

But even if you aren’t a veteran or are new to a particular city, you can still do your research and price the homes under your authority to sell. With so many resources available online, you can easily do the research required to find out what houses are selling in your area and at what prices.

Get Your Buyers Purchase-Ready

Experienced homebuyers understand what it takes to buy a home and how to do so quickly. Still, for newer homebuyers without the experience, they’ll lean on you individually to help them navigate the homebuying marketplace. Part of helping your clients buy or sell a home as expediently as possible is making sure they are prepared to make the purchase.

What snags most real estate transactions or at least temporarily holds them up is buyers who don’t have their mortgage lined out before shopping. Help close more sales by sending your clients to Tidewater Mortgage Services, Inc. It’s as simple as having them complete our online application and get pre-qualified in as little as 24 hours!

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