How to Determine the Perfect Asking Price for Your Home

Pricing your home often requires a delicate balance, and your List Price will most definitely send a signal to Buyers. It is tempting for a Seller, or even a Realtor, to pursue a higher Listing Price that conflicts with the home’s actual worth, and it is equally tempting to under-List a home for a quick, safe sale. Consider the following points as you seek to determine the most appropriate Listing Price for your home.

  1. Precise Asking Price

Research reflects that an exact price can sends a signal to Buyers that the Listing Price is less negotiable than a round number.  For instance, $475,985 presents a confidence choice, as opposed to an even $500,000. However, most Buyers are savvy and can regard this as just a marketing ploy.  You can choose either option, just be sure of what message you are sending.

  1. Using the Number 9

When looking at numbers, presentation is everything. A subtle difference is made when presenting your listing as $499,900 rather than $500,000. It gives the allusion that the Buyer is getting a better “deal”.  Most importantly, it sets a price below the next higher bench mark.

  1. Beware of a Low Asking Price

In a strong Seller’s market, setting a low asking price, will not necessarily translate into a higher sale price. Although it may generate a rush of Offers, it may not benefit your pocketbook in the way you anticipate.

  1. Use Your Resources

Numerous website avenues can often provide you “comps” to better determine the value of your home.  This should give you a great building block.  This works well in neighborhoods that are homogeneous.  Not so well, in areas where the homes are more unique.  Embracing the trust of a Realtor can normally provide you a more accurate analysis since they have access to more information and understand the market better.

About fulshearrealestate

With over 20 years of working in the greater Fulshear/Katy market, RE/MAX Realty West has become an integral part of the community and the number one choice for clients to find their next home. We are intimately familiar with the rich history and the wonderful communities that this area has to offer, not only because we work here, but because this is the community that we, ourselves, call home. As a friendly, boutique office, our goal is to provide our clients with an unequaled level of service. Whether you are finding the right home or looking to put your current house on the market, RE/MAX Realty West can help you every step of the way. Our experience helps clients find the right home, in the right location. We specialize in the greater Fulshear and Katy communities including Weston Lakes, Fulbrook, Cross Creek Ranch, Fulshear Creek Crossing and Firethorne. We also serve the acreage communities along the FM 359 corridor, which include the quaint neighborhoods of River Forest, Texana, Woods Edge and Grand River. Additionally, we handle the large Katy Master Planned Communities including Cinco Ranch, Seven Meadows and Grand Lakes.
This entry was posted in Real Estate Insights and tagged , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s