When selling your home in Fort Wayne, you want to get a great price that makes you a profit. However you don’t want to price too high, and scare off potential buyers, nor do you want to price too low, losing out on thousands of dollars.
There are lots of proven methods and strategies we would like to share in this article. Keep reading to learn how to set your asking price in Fort Wayne.
Know Your Market
First, do some research to see what homes are selling for in your area. Take a look at seasonal trends, and if you have the time, list your house at a time of year when prices are typically higher. Look up homes that are actively listed on the MLS, Zillow and for sale by owner sites. In Fort Wayne, usually the best times to sell are at the beginning of spring, and early fall.
Take note of how long the properties have been listed.
If a home has been for sale for awhile, it’s probably overpriced. Think about supply and demand, if there are many homes on the market, buyers will be at an advantage.
Second, you can ask a couple of realtors for a more detailed CMA. (Comparative Market Analysis.) Many realtors will offer this free of charge, as a marketing technique. Requesting a CMA should not put you under any obligation to the realtor. They may even be working with a buyer that wants to purchase your home. Either way, a realtor is a great way to know how to set your asking price in Fort Wayne.
Be Realistic
You might have a price in your head of what you want to get for the home, but make sure this price is realistic. Most folks, including yourself, don’t want to overpay for anything. They want to feel like they are making a good financial decision. Pricing your home competitively will help buyers feel good about buying your home.
Pricing your home too high could lead to you dropping the price several times before it’s sold. These price drops will show on the MLS, and repetitive price changes can make you look desperate or indicate that something may be wrong with the house. A good rule of thumb is to allow for only one price drop if absolutely necessary.
To make sure your asking price is based in reality, it might be beneficial to have a professional appraisal done, to help you set your asking price in Fort Wayne.
Ask Opinions
In addition to asking realtors for a detailed CMA, you can also ask friends, neighbors, and family. Ask for their opinion and see what they would pay for a home like yours.
Getting multiple opinions from a variety of people can help you find a middle ground as well as help you find additional selling points you may have overlooked,or things you need to improve that you didn’t notice.
There Can Be More To It Than Just The Final Sale Price
Maybe you can offer a lower price for the home, however, the buyer has to pay the closing costs. Or maybe you can get your asking price, so long as the furniture comes with the house. Some buyers are still renting and need to wait out their lease. If you can be flexible, sometimes that’s more important than the overall price.
You do have some bargaining power when finding the sweet, sale price for your home. With some clever strategy, you will be able to find a price that works for all parties, and know that you are setting your asking price in Fort Wayne correctly.