One of the most crucial decisions you’ll make as a home seller is the appropriate asking price for your property.
If priced too high, buyers will ignore your listing until you dramatically reduce your price—typically down to a substantial loss. Price it too low and you may be leaving money on the table.
If you’re planning on selling your home in the Carmel, IN real estate market, here are five helpful tips to determine a reasonable, as well as attractive selling price for it:
1. Work closely with an experienced and well-connected local real estate agent
Right from the start, team up with a reputable local real estate agent to get the upper hand. Working with a real estate professional gives you access to the essential data, resources, and expertise you’ll need—not just for pricing your home, but also throughout the rest of the home selling process.
2. Get a comparative market analysis done
The best way to determine the current market value of your home is to compare it with similar properties in your area. Look at houses with the same size, style, age, and features. Your agent’s access to local housing data will come in handy in putting together an accurate comparative market analysis.
When comparing home prices, you don’t need to pull up city-wide property prices. You’re better off looking at comparable properties in the same neighborhood or district.
3. Look at prices of unsold or canceled listings
In addition to looking at prices of current listings and recent sales, look into failed listings, as well. If your agent can help you dig into the reasons why these homes didn’t sell, you can gain important insights that will help you arrive at a more appealing asking price—as well as marketing strategies—for your listing.
4. Use online property valuation tools
If you can’t wait for your agent to prepare a local comparative market analysis, you may do your own research using automated valuation tools. These are freely available on real estate websites like Zillow, Trulia, and Realtor.com. Although they may not be as accurate as an actual CMA, these online tools can provide a rough estimate to work with early on in the home selling process.
The Federal Housing Financing Agency has its own house price index calculator, that records a property’s change in value throughout its sale history.
When it comes to reliable professional assistance and services related to Carmel, IN real estate, you won’t go wrong with the Keith Albrecht Team. Contact us today at 317.590.7878 or keith(at)keithshomes(dotted)com if you’re looking for the best partners to help sell your home.