The price. This is the one thing all sellers want to know. What is my home worth? The answer in a nutshell is whatever a buyer is willing to pay. Many sellers think they can pick a price, put it on the market, and they’ll find a buyer. Unfortunately, that’s not the case. There are many factors you have to take into consideration when determining a price.
Location: The law of supply and demand helps us understand how to price real estate. Mark Twain once said “Buy land, they ain’t making anymore of it.” Within every city, there is an epicenter. A point, or center, where people want to live near. This same concept can apply to any neighborhood. The more desirable the location, the more people are willing to pay.
Competition: When buyers are looking to purchase a home, they tell their Realtor to show them all properties in a certain location that have, let’s say, three bedrooms and two bathrooms. If your home was the only property, then a buyer would pay you a higher amount since that was the only home that met their criteria. If the Realtor came back and showed them ten homes that had similar features, and in the same area, which one do you think the buyer would purchase out of those ten? Probably the most affordable one. Once Austin Rising has your home listed, we will monitor your Home’s “competition” and interpret the market to help you understand your home’s value.
Timing: Real estate is made up of nothing more than a bunch cycles. These cycles follow demographic trends. Austin Rising monitors these cycles to assist sellers with choosing the right time to sell their home. If you’re in a position where you need to sell, Austin Rising can individually tailor a marketing plan to help you reach the largest demographic of buyers and get the most money.
Condition: The condition of your property will determine the price you can get and the amount of time it will take to sell. Certain repairs or improvements will result in a higher sales price. If you are considering improving your home before selling, contact Austin Rising to discuss which repairs will net you the most money.
Price: This is the one term buyers and sellers have a love/hate relationship with. You want to sell your home, but you want to get the most money. Your goal with pricing the property is to create interest, or demand, to get people excited about your home. The more demand, the better the offer you can potentially receive. Once your home hits 21 days on market, buyers can start to discount the value of your home. It’s important to price it properly right out of the gate and get your home sold. Your Austin Rising agent can help you determine a price that makes you happy AND get’s your home sold in a reasonable amount of time.
Keeping it Simple. Austin Rising monitors the market daily to see what is going on with pricing for your home and inventory in your area. We interpret the market to make sure we are pricing your home appropriately so we can help you sell quickly and for the most amount of money.
If you would like a free comparable market analysis of your home’s value, please call Austin Rising at 512-297-8242. You can also fill in some basic information about your home online and view our Market Snapshot to see what homes are selling for in your area.
