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Pricing Your Home to Sell
Setting a price for your home is not an exact science, but it's a good idea to consider several factors before picking the amount. For example:
- How much have similar houses (or condos or town homes) in your area sold for?
- What specific features and amenities does your home (and its location) offer?
- Is the housing market hot or cold in your area?
- How much work does your home need?
- How quickly do you want to sell?
- How much money do you need to buy your next home?
Unless the housing market is “white hot,” you can expect offers to come in below your asking price. That’s when your negotiations begin.
Remember—it’s NOT all about the price.
You may be surprised at just how much you can negotiate in a real estate sale:
| Major appliances. |
| Consider excluding your refrigerator, microwave, washer and dryer from your asking price. They can become good bargaining chips later on. |
| Other “extras.” |
| Similarly, you can exclude window treatments, air conditioners, chandeliers and ceiling fans in your listing, but include some of them later in a counter-offer. |
| The closing date. |
| Time is money—and for some buyers, your flexibility in setting a closing date can be as good as cash. |
| Creative tactics. |
| Learn about your potential buyers. Are they first-time home buyers? Inform them about their financing options. Are they moving from a condo or an apartment? If so, “throw in” your garden tools or mower. Do they have kids? Include the swing set you’d rather not dismantle and move. |
See Negotiating the Sale of Your Home for more information.
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