How to Properly Price Your Home

Kingston Real Estate Podcast with Pierre Nadeau

When selling your home, there are a couple of key points to keep in mind that will help you price your home properly.

The first thing you want to do is look at recently sold homes. You might have to contact a few different Realtors and get a few different prices, but at the end of the day, all Realtors should be within a $10,000 price range on your home.

Most of the research you do will be on sold homes, and Realtors will provide you with that information. You also want to know what your competition is. What is for sale in your neighborhood and similar to your home? If you've got a bungalow, compare it to other bungalows, not a two-story home, for example. Make sure the finishes inside are the same as well.

Everyone has the Internet these days, so you're not going to fool anyone pricing high.

Next, you want to figure out what the average price is. You want to make sure you're priced kind of in the middle. I like to look at the finishes in a home and ask if they are average, above average, or below average to find out where you should price your house relative to the rest of the neighborhood. Always remember, though, your house is worth more to you than it is to the average buyer.

The biggest thing to remember is that pricing your home is 90% of the marketing plan. Everyone has access to the Internet, so you're not going to fool anyone by pricing too high. The longer your house sits on the market, the lower the offers will be. If you price properly from the beginning, you'll sell fast, for top dollar, and be able to move on to your next house.

If you have more questions about pricing your home properly or about real estate in general, give me a call or send me an email. I'd be happy to help you.