Step 3. Pricing Your Property

The methods available for pricing your home vary from country to country.

When deciding on a price for your home you cannot ignore the competition. You must find out an average price for similar price for similar homes in the same area. Bear in mind that the prices advertised on estate agents listings are the asking price and not the selling price, so you need to make an adjustment for this, which, in turn, is dependent on market conditions.

Another factor reliant on the current market is the time to sell, knowing this you have an idea of how long it will take to sell your property.

A further important point is your motivation for selling. Is there something in your life that is pushing you to sell, in which case you will have to set a more competitive price or do you have time to wait for better offers?

Some points to bear in mind:

• When it is a buyers market, prospective purchasers are certainly going to demand a discounted price from that advertised, even if your price is already very competitive.
• Most people, when there is pressure to sell, set their price too low, they tend to be in too much of a hurry and take a lower price instead of waiting for that higher offer.
• Selling is seasonal, generally house sales increase in the spring and autumn.

Determining the Value of Your Property Some of the methods listed below are dependent on where you are living.

• Check local agent websites and windows for similar property prices.
• Check property portals.
• In the States you can call three or more Realtors in your area for a free Comparable Market Analysis or CMA.
• Do you have access to property appraisers in your area? If so, for a few hundred dollars you can have an appraisal carried out on your house.
• Brows the local newspapers.
• Go to ” open houses ” and get a feel for the competion.

Be realistic, emotionally detach yourself from the situation and take account of the facts. If your house is priced too high, potential buyers will not even call let alone visit your property. You cannot escape the facts.