Pricing your home for sale is one of the most important decisions you’ll make when selling your home. Just like pricing a new product for sale, you need to evaluate many aspects of the item before setting a price. In business, just as in home selling, pricing too low can create a buying frenzy, or in your case, a bidding war, and pricing too high can leave your home on the market for months, or even years, longer than it needs to be. Pricing your home becomes one of the most important pieces in the sales puzzle. If you’re looking to price your home for sale, here are a few tips to help out:

Appraisal – If you’re selling without a real estate agent—which can lead to legal issues, drawn out contracts and broken promises—you will also need to consider how you’ll be pricing your property. Agents are experienced in pricing properties, and while they can’t technically be called “appraisals,” real estate agents can generally get your home priced in a fair range. If you aren’t hiring an agent though, and you have no clue what current homes are going for in your area, or if you live in a unique neighborhood, you may want to consider getting a professional appraisal for your home, which can typically last for up to six months.

Research – If you don’t want to hire an appraiser to determine the fair market value of your home, be prepared to do some research. The first and most important rule to understand is that people can list their homes for whatever they want; it does not mean the $175,000 two-bedroom house across the street from you will necessarily sell for that much. Look at prices of sold homes only; these are homes that were either priced correctly, or were negotiated down to a fair price. You won’t be able to see the sold price compared to the list price on many sites unless you have an agent’s access, but you can bet that if a house sat on the market for over six months, it probably started very overpriced.

Hire an agent – Hiring an Aurora real estate agent is your best bet for pricing and selling your home as fast as possible. Some real estate agents are so knowledgeable in certain neighborhoods that they can literally spout off price per square foot prices off the top of their head.

About PorchLight Real Estate: PorchLight Real Estate Group has the most experienced and knowledgeable Denver real estate agents in Colorado. For more information about homes for sale in Denver CO or specific neighborhood homes please visit www.porchlightgroup.com.

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