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Pricing Tips for First-Time Home Sellers

by Ann Fotenakes 01/07/2019

If you plan to sell a house for the first time, it pays to think about how you'll price your house. By doing so, you can establish a competitive price for your residence and boost your chances of a fast, profitable home sale.

Now, let's take a look at three pricing tips that every first-time home seller needs to know.

1. Perform Housing Market Research

Although you may have bought your home in the peak of a buyer's market, it is important to note that the real estate sector constantly fluctuates. This means the value of your home today is unlikely to match its value from a few years ago.

Before you price your house, you should take a look at a variety of housing market data. This information is readily available and will enable you to take an informed approach to the real estate market.

For example, a first-time home seller should examine the prices of available houses that are similar to his or her own. With this housing market data, a home seller can find out how his or her residence stacks up against the competition.

It also helps to review the prices of recently sold houses in your city or town. That way, you can determine whether you're about to enter a buyer's or seller's market and set realistic pricing expectations for your residence.

2. Conduct a Home Appraisal

A home appraisal is exceedingly valuable, particularly for a first-time home seller who is uncertain about the value of his or her house.

During a home appraisal, a property appraiser will examine a residence's condition, as well as various housing market data. Then, this appraiser will provide a comprehensive report that includes a property valuation.

By completing a home appraisal, a first-time home seller can receive expert property insights. Plus, the appraisal enables a home seller to identify a property's strengths and weaknesses.

3. Collaborate with a Real Estate Agent

A real estate agent is a housing market professional who is committed to client results. As such, a real estate agent will go above and beyond the call of duty to help a first-time home seller set the right price for his or her house.

Typically, a real estate agent will meet with a home seller and learn about his or her property selling goals. This housing market professional then will provide extensive housing market insights to ensure a home seller can establish a competitive home price from day one.

Let's not forget about the support that a real estate agent provides throughout the home selling journey, either. A real estate agent will set up home showings and open houses and do everything possible to help a home seller optimize the value of a residence. Also, if a home seller has questions, a real estate agent is ready to respond to them at any time.

Take the guesswork out of pricing your residence – use the aforementioned tips, and a first-time home seller can establish a competitive price for his or her home.

About the Author

Author
Ann Fotenakes

Personal experience and education have made me a great relocation specialist as well.

I understand what is important and necessary to make your move as stress-free and timely as possible. I am active in my community and can provide information not only on our housing market, but on schools, youth athletics and community activities.

PERSONAL
I have been a Flushing resident for over 25 years, and I have made it my job to find homes here for others as well as helping people who wish to sell homes in the area.

I graduated from Mid Michigan with a L.P.N. degree.

As a full-time real estate professional since 1979 I have helped many clients with the sale and purchase of their homes.

Because the real estate industry is becoming more sophisticated and challenging every day, you need a professional who understands the market and is positioned to stay ahead of the game. With knowledge, experience and a commitment to excellence, I will help you stay ahead of the game.

CERTIFICATIONS:

Broker/Owner
ABR - Accredited Buyer's Representative
Member of Flint Area Association of Realtors (FAAR)
Member of the Flint Chamber of Commerce
Sales and Marketing
L.P.N.