How to set the right list price for your home?

So, you need money and want to sell your property right away. Now, the biggest question that stares at you is- What should be the listing price of the house? This is an important question because a lot of things, such as whether you will get a reliable customer and how fast you will be able to sell the property, depend on it. So, answering this question appropriately is of utmost necessity. Although setting the right listing price for your house may not look like a big deal, it often becomes a challenging phase of the entire property selling process because of the number of considerations it factors in. We help you take up this challenge effortlessly with these tips.

If your house is in a city like Bangalore, it might get quite tempting for you to set a high price for it. But refrain from such a mindless practice. Setting an exorbitant price for the house will only shoo away potential customers. What you can do instead is enquire about other flats for sale in Bangalore.You can also choose to visit a few of them to get a hang of how they have been priced. This way, you will be able to set a competitive price for the house you intend to sell. Besides, you will be able to have an idea regarding how long a house sits in the market unsold when it’s pegged at a price. Such information can prove immensely helpful when you need to sell your house faster at a reasonably good price.

As an alternative measure, you can ask your real estate agent for a reliable comparative market analysis. Such an analysis will offer you sufficient information regarding the price range within which houses like yours have sold in the recent times. This analysis will also help you understand what shortcomings the houses that fail to attract customers generally possess. So, a comparative market analysis turns into a great source of research for you, which, if put into use appropriately can help you list a great price for your property. As a matter of fact, one of the biggest reasons why houses sit unsold in the market is pricing. Hence, being reasonable while assigning a price to your property is highly advisable.

Another important factor, on which you should base the pricing of your house, is the condition of the market. For instance, if the market for properties is in a good state, you can keep the price a little high. However, if the market is visibly ailing, you won’t attract too many customers by adopting a high price strategy. So, keeping the current market trends in mind while setting a price for your property is extremely important.

Even the first impression a probable buyer is likely to have of your house counts in this respect. If your house is clean, well-maintained and looks well cared for, customers won’t cringe while paying its list price. However, if you haven’t put any efforts into the maintenance of the house, get ready to expect ridiculously low price quotations for it.