Selling your home can be an overwhelming experience. Pricing it correctly is a key component. The goal is to bring in the maximum amount of interested buyers without costing yourself tens of thousands of dollars.
Pricing your home can be confusing, especially in a hot and diverse market like Arizona. Here are five tips for making sure that you get the highest sale value possible.
- Don’t Abide Only by the Estimates of Third-Party Sites
Some real estate sites allow you to look up any home and see an estimate for what it is currently worth. These sites typically look at the price the house last sold for and factors that into changing trends in the area in general. However, a computer program does not track major upgrades to a home that drastically affect value, unique features of the home or changes to the neighborhood – nearby schools or businesses. While these numbers can be a solid starting point, take them with a grain of salt until you consult a professional.
When you are looking at pricing your home, the best thing you can do is start with a comparative model analysis (CMA). To do a CMA, you will need to talk with an agent. When you work with a Homie agent, they will look at similar homes around you to determine what your home is worth by reviewing details such as images of the home, listed amenities, upgrades and the home’s age. Assessing the big picture and knowing the details firsthand is the best way to conclude a listing price. Homie offers a free home value report, so you can price your home correctly.
3. Never Assume There Will Be a Bidding War
While bidding wars could happen on any property (especially in currently in-demand areas across the Valley), you do not want to rely on a bidding war to happen in order to get your true target price. Intentionally listing the property at a lower value than you should, in hope of inciting a bidding war, can backfire and cost you significantly in the process.
4. Work with a Real Estate Agent
Local real estate agents, like the ones at Homie, live and breathe home prices. They know how in-demand housing in your neighborhood is, and what the value of the homes are. They are also aware of things that are hard to track through pure data alone, such as the increased value of an open floorplan that most people want, or what (if any) small upgrades you should or have made to your house to make a big impression.
5. Turn to a Homie
Homie has experienced, licensed agents in Arizona who charge an affordable, set flat fee for selling your house. Here at Homie, we know the market well and will help ensure you’re pricing your home competitively while still getting every penny for it that you should.
Selling your home is a big decision and deciding what price to list your home at is a crucial part of the process. The steps laid out above can help you price your Arizona home well, especially when you are working with an experienced local real estate agent.
Looking for help when deciding how to price your home in Arizona? Learn more about how Homie’s real estate agents can save you thousands and sell your home quickly here.
Written by: Wayne Graham, Head of Real Estate for Homie Arizona