One of the trickiest parts of selling a house is setting the selling price. Fail to pick the right amount at the start and you would not be able to sell quickly.
Many homeowners tend to overprice their property. Aside from wanting to earn more from the sale, they overestimate the value of their homes because of their emotions. Doing this can be costly because it can turn off buyers and potentially, increase your property’s days on market (DOM).
Keep in mind, buyers nowadays in Dublin and all over Ireland do their research. With the availability of property portals, it would not be difficult for them to know how much houses like yours are worth.
So, it is essential that you set a reasonable price when you put your house on the market. This is not just to ensure that you find a buyer but also to get an excellent offer.
How do you price your house to attract the best offer? We’ve listed some of the strategies which can help you achieve this.
Hire an Experienced Real Estate Agent
Aside from searching for buyers and showing your house, a real estate agent can help you determine the right price for your property. If possible, chose an agent who has sold properties in the area where your house is located.
Using her knowledge of the local market and the prices at which comparable homes have sold for recently, she can determine the price that is going to attract the attention of buyers.
To find an excellent agent, ask for recommendations from friends, search the Internet and read online reviews. More importantly, find time to interview the people you have shortlisted to know who you can build rapport with.
Check Out the Competition
Go around and look at comparable houses. This is going to give you an idea of what buyers will see and what you are up against. You are going to be aware of what the reasonable price is for properties like yours.
You can use these properties and their prices as references when deciding how much to sell your house for.
Based on the homes you saw, ask yourself what price is going to give you the advantage over your competitors.
One good strategy you can employ is to set your price below the competition to stir interest in your property. This can lead to more offers and a bidding war which can drive up your home’s price. If you play it right, you can end up selling at the price you want or even higher.
Just make sure you don’t go too low as this can give buyers the impression that there is something wrong with your house. Furthermore, only use this strategy if you are working with a top-rated real estate agent or if you are a good negotiator. Ultimately, being able to negotiate well is critical to the success of this strategy.
Listen to Your Real Estate Agent’s Suggestions
Your home may look good, but this does not mean that there is nothing more you can do to improve its potential. For example, repainting your walls can help you sell your property at a higher price if you pick the right paint colour-room combination.
To do this properly, you need a person with the know-how and an objective eye like a professional real estate agent.
Keep an open mind. Remember, your agent is familiar with the local market. So, she is in an excellent position to identify improvements which can make your home more appealing and increase its value.
Pricing your house correctly can lead to a successful sale. So, make sure you take the right steps to come up with the right price. Stay tuned for part 2 of this blog to learn more strategies on how to price your home to get the best offer.
Need help pricing your house? Let our trusted Dublin real estate agents help you! Call us today on 01 495 9020 to learn about our services!