Establish a Price - The main factors that influence the pricing of your home are:
- Interest rates: The lower the interest rates, the more buyers can afford to pay.
- Supply and demand: Are "for sale" signs springing up all around the neighborhood? If there are a number of homes similar to yours on the market, consider them your competition. What can you do to set your home apart and make it desirable for a majority of potential buyers? On the other hand, a small number for sale can result in competing bids that send prices up.
- Results of a comprehensive market evaluation. Ensure that a credible and comprehensive market evaluation is done by a realtor in order to get a truly accurate picture of how your home fits within the local real estate market.
- Location: Are you in a desirable neighborhood, with key services such as schools, doctors, and shopping nearby? Are there factors that make your neighborhood less desirable, such as environmental issues or traffic problems?
- Condition: Have you updated features and kept up with repairs? Is the house clean? Does your house make a good first impression? (This is called "curb appeal.") How much can you reasonably do to fix it up for sale?
- Timing: Do you need to sell quickly or can you choose your time?
- Size: Will your home appeal to a growing family or to those who are downsizing?
- Amenities: Does it include features that are popular, such as low-maintenance landscaping or granite counter tops?
- Terms: How flexible are you with respect to the sale? What's excluded?
- Attitude: How committed are you to selling now?