Top Tips To Guarantee Offers In A Buyer’s Market

Source: http://boiserealestateinfo.net
Publish Date: 9/13/2008 

Many homeowners often go about pricing their homes in a way that turns off buyers – they take what they paid for the house, add a few thousand dollars, and anxiously cross their fingers, hoping to attract potential buyers. Unfortunately, if you’re looking to effectively price your home, you’re going to need to do a bit more research than that. Not sure where to start? Here are some expert tips that will guarantee an accurate price for your home – and net you competitive offers from prospective buyers despite the current marketing conditions!

Take an Unbiased Approach

When it comes down to pricing a home, many homeowners approach the task from a nostalgic point-of-view, and end up asking for too much. While you can consider previous home upgrades in your asking price, buyers aren’t interested in paying extra for your home based on your fond memories. Just because you grew up in your house or raised children there, doesn’t mean a potential buyer will be willing to fork over more money for your nostalgia.

Put in the Research

Market research is absolutely essential to accurately pricing your home. Attend a few open houses in your neighborhood, or spend some time at an online website like zillow.com, which offers comprehensive estimates on houses in your area that are similar in size. Knowing what your neighbors are offering potential buyers is vital to competitively pricing your home.

Consider Marketing Trends

Where you live is often the biggest factor in determining your home’s ideal price. Do you live near excellent schools, or does the educational system leave a lot to be desired? Are you located in a safe neighborhood, or do the police make routine visits? Does your town or city boast a robust economy, or is employment scarce? The more trendy and desirable your location, the more you can inflate your home’s asking price.

Ask the Opinion of Real Estate Experts

Sometimes, it’s best to leave the estimating up to the experts. Ask three to five different real estate agents what they believe you house to be worth, and adjust your home’s price based on their feedback. Sweeten the deal. So you think you’ve priced your home in a way that accurately reflects its value, while offering prospective buyers a great deal? Step it up a notch by throwing in financial assistance with down payments or closing costs. By offering to financially assist buyers, you can save yourself the hassle of having to lower your asking price by tens of thousands of dollars – leaving both you and your buyer feeling like winners.

As you can see, it will take some time to accurately price your home, but it’s not an impossible task. Take the time to research current marketing trends and be aware of what your competition is offering potential buyers. All of this information will arm you in estimating an asking price that satisfies your needs – and entice competitive offers from top buyers.

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