Is it time to put your current real estate up for sale? That means you are about to undergo an involved and very important marketing and sales process, one which could shape your financial fortunes for some time to come. Selling your home is one of the biggest transactions a person will ever make. You want to make sure you get fair value for your house, and that means setting a good listing price.
But what factors come into play when you are establishing your listing price? Your real estate agent will probably be able to give you a good figure, but how did he or she arrive at it? And what should you add as input? We will take a look at what influences a listing price in a bit more detail below.
The most important influence on listing price will be the location of your home. The first locational consideration is the city itself. You will find, if you look through the MLS and compare it to another area, that homes are listed for a lot more money in bigger cities. You might have a bigger house than the one you are looking at, but the conditions in your city are what will determine the right listing price.
Next is location within the city itself. Again, there might be houses much smaller than yours which are worth a few thousand more, at least on the listing end. That is just the way it goes. A certain house for sale in Arlington for example, will be listed for higher than another, because of its proximity to a school or its distance from the center of business.
Now, you need to look at your location in terms of what else is selling nearby, and for what price. This is where you start really establishing a dollar amount on your home, as you can now compare it to similar property nearby to get an idea of what it is worth.
Finally, you will influence your listing price yourself. Whether we are talking new homes in London Ontario or those right here in Arlington TX, the seller has final say. If you want to list higher than what your agent suggests, go right ahead. Just be aware that it's one of the most common mistakes people make when trying to sell a home.
This page is sponsored by London Ontario real estate agent Jeff McFalls.