When it comes to selling your home in Spokane, you are going to want to get the best price for it. If the price is too high, you risk the chance of scaring off potential buyers, if you price to low you potentially lose thousands of dollars. There are many proven strategies and methods we would like to share with you in this article. Let’s dive deep into this subject and learn how to set that asking price that’s perfect for your buyer.
Know Your Local Real Estate Market Spokane Wa
Right now is the time to do some research and find out what comparable homes are selling for in your area. (Hint: Do not cross any major streets or go further than 4 blocks from your address). You can use any real estate website to help you with this decision. Most people use Zillow or Trulia. You can also look up local for sale by owner or use the MLS.
Take note of how long the properties have been listed.
Make sure that the home you are comparing your home with hasn’t been on the market too long, it will most likely be priced too high. Think about supply and demand, if there are to many homes on the market, buyers will be at an advantage. If there are not enough houses on the market, people selling the house are at an advantage.
In addition to all that, you can ask a few local real estate agents for a more detailed Comparative Market Analysis. Many real estate agents will offer this service free of charge, as a marketing technique. Just know that asking for a CMA should never put you under any obligation to have that real estate agent sell your house. Who knows, they may even have the buyer for you!
Make Sure To Be Realistic
There may be a price you already have in mind of what you want to get for the home, but make sure this price is realistic. Buyers know what they are looking for and what price they are willing to pay, and depending on your real estate market in Spokane, they may have many options.
They want to get a good deal and find a value just as much as you want to get a good price for your house. Finding the sweet spot is the trick. You do not want to price your home too high and have to make multiple cuts to the price.
Doing these price drops will show up on the MLS, and price changes can make you look like you are desperate or you may indicate that something may be wrong with the house. Only allow a price drop if it’s absolutely necessary.
To make sure your asking price is based in reality, it might be beneficial to have a professional appraisal done.
Ask For Others Opinions
Ask friends, family, and also neighbors in addition to asking a real estate agent for a detailed CMA. Ask their opinions and see what they may pay for a home like yours in the area.
Getting multiple opinions from a variety of people can help you find a middle ground as well as help you find additional selling points you may have overlooked.
There Can Be More To It Than Just The Final Sale Price
Maybe you can offer a lower price for the home, however, the buyer has to pay the closing costs. Or maybe you can get your asking price, so long as the furniture comes with the house.
You do have some bargaining power when finding the sweet, sale price for your home. With some clever strategy, you will be able to find a price that works for all parties.