At Golf & Shore Properties, we understand that you want to sell your house for as much as you possibly can. We also know that it’s important for home sellers to understand the process of establishing a selling price for your home. This not only gives you realistic expectations, it also provides you with the opportunity to make improvements so you can command a higher selling price.
Completed Home Sales in Your Area Provide the Most Clues
As North Carolina real estate brokers, Debra Ball and Lisa Garner have many years of experience helping sellers receive fair market value for their home. These are the steps they follow in establishing a comparative value for your home:
- Locate a listing of homes that have recently sold in Atlantic Beach, Morehead City, or the surrounding communities over the last six months.
- After studying the completed real estate transactions, your agent chooses three properties that are as close a match to your home as possible. Some things they consider include amenities, year of construction, lot size, number of square feet, type of roof, and general style. We agree with the online publication Home Guides that states the comparable properties should not be more than 200 square feet larger or smaller.
- Your agent then looks at whether your home is newer, larger, or has features the other properties don’t have. This can increase the starting price you can ask.
- For the last step, your agent adds the price of the three homes together and divides them to come up with an average. She uses this as a guideline to set the price for your home.
Establishing Your Selling Price
As we discussed in the blog How to Make an Offer to a Seller When Buying a Home, establishing a selling price requires inside knowledge of how the buying process works as well. This means your agent will normally set the starting price a bit higher than you hope to receive but not so high that no one will place a bid. This leaves plenty of room for back-and-forth negotiating after a buyer places an offer.
Ready to Get Started?
Once you decide to sell your home, coming up with a competitive asking price is the first order of business. Please contact Gulf & Shore Properties today to get professional assistance with this and all other steps involved with the home selling process.