When a property hits the real estate market, the seller decides on an asking price, that they establish after researching the local market conditions and the competition. Home sellers list their properties for a ‘desired’ price in the hope that interested buyers are willing to match it when making an offer.
Determine Your Property’s Value
A sensible asking price is essential to be set - it serves as the foundation for negotiation. The final price agreed upon between buyers and sellers for a home is usually known as the selling price. The market value of a home assessed by a professional appraisal can help the owners understand how much their property is worth based on its features. The overall value usually depends on these factors:
- Local market scene (Buyer's or seller's market)
- Property type and condition
- Market value of similar properties in the same area
In a market with an oversupply of homes, a buyer may offer a lower amount than the asking price of the home. The more competition a seller have, the lower they should set the starting price to attract buyers and make it more likely to get an offer.
Set the Right Price from the Beginning
Pricing your home correctly from the start is vital for a quick and best price sale. If you end up overpricing your home, you may find it hard to make the deal, which means that the house will end up staying on the market for longer. It's important to set the right asking price for your home right out of the gate, because your home will likely get the most attention from potential buyers when it first hits the market.
How Your Real Estate Agent Can Help
A real estate specialist typically knows each factors of the property selling process, which makes it easier for the owner when they’re looking to sell their home. They provide you with a comprehensive market report that gives an accurate picture of a property’s value and can also consider additional information like recently sold properties, the current market, upgrades, and local amenities.
Your real estate agent is the best source of information about the local community and real estate topics. Give At Home a call today at +36 20 262 7864 to learn more about local areas, discuss selling a house, or tour available homes for rent or for sale.