Best Practices for Pricing Your Residence

by Eric Lindlau 11/05/2018

Before you list your house, you'll need to establish a competitive price for it. That way, you can increase the likelihood of stirring up plenty of interest in your house as soon as it becomes available.

Now, let's take a look at three best practices for pricing your home.

1. Evaluate the Real Estate Market

The current real estate market's conditions can impact your ability to sell your residence. However, if you study the real estate market closely, you can differentiate between a buyer's and seller's market and plan accordingly.

In a buyer's market, the number of home sellers exceeds the number of homebuyers. As such, you likely will need to establish an aggressive price right away to separate your house from the competition.

On the other hand, a seller's market favors home sellers over homebuyers. If you're operating in a seller's market, you may be better equipped than ever before to earn a significant profit.

To differentiate between a buyer's and seller's market, examine the prices of recently sold homes and available homes in your area. This housing market data can provide deep insights into the current state of the housing market. Plus, this data can help you understand how your residence stacks up against the competition.

2. Conduct a Home Appraisal

Ultimately, a home appraisal can make a world of difference for any home seller, at any time.

During a home appraisal, a professional appraiser will examine your house both inside and out. Then, this appraiser will offer a valuation of your property based on his or her findings.

A home appraisal involves an evaluation of the current condition of your home, your house's age and your neighborhood. Therefore, if you complete a home appraisal, you should have no trouble using the appraisal results to help establish a fair price for your residence.

3. Collaborate with a Real Estate Agent

When it comes to selling a house, there is no need to work alone. Fortunately, if you collaborate with a real estate agent, you can receive expert insights into all aspects of the home selling cycle.

A real estate agent is happy to meet with you and learn about your home selling goals. Next, this housing market professional will offer home pricing recommendations, ensuring you can make an informed decision about how to price your house.

In addition, a real estate agent will go above and beyond the call of duty to ensure you can enjoy a seamless home selling experience. This housing market professional will promote your residence to large groups of homebuyers, set up home showings and open houses and put together an engaging and informative home listing. Also, a real estate agent will always keep you up to date about any offers on your home.

Looking to list your home in the near future? Use the aforementioned best practices, and you can establish a competitive price for your residence and boost your chances of a fast, profitable home sale.

About the Author
Author

Eric Lindlau

 

About ERIC LINDLAU

My Client-First Philosophy

There are many qualities and skills that go into being an excellent real estate professional - integrity, in-depth community and market knowledge, marketing savvy, effective negotiation skills and a high-quality professional network, all of which are hallmarks of how I work.

That said, in my experience as a COVENTRY real estate professional, I've also found that providing the very best service is essentially about putting my clients first. This means keeping myself accessible, being a good listener as well as a good communicator, and responding quickly to your needs.

This "client first" philosophy has always been my approach and it requires me to continually improve my skills and ways of doing business. In addition, I've found that the latest technologies are enabling me to do everything I've always done, only much more quickly and efficiently. They've also helped me to extend the range of services I provide to my clients.

So when you decide that you'd like to buy or sell a home in the COVENTRY areas, please contact me.

*****Highly likely to recommend

05/11/2017 - lisal campbell13

Sold a Single Family home in 2017 in Coventry, CT.

  • Local knowledge: *****
  • Process expertise: *****
  • Responsiveness: *****
  • Negotiation skills: *****

I am a 70 yr old recent widow who needed to reluctantly sell our house alone for the first time. Eric Lindlau, owner of Lindlau Realty, was the perfect choice for me. He explained in detail the entire process answering all my questions. He was sensitive to my emotional state, kind and helpful in every way. He even assisted me when I accidentally locked myself out of the house! He emailed me selling prices of comparable houses, which helped me understand realistic values in our living area. I highly recommend this personable young man for your real estate needs.

*****Highly likely to recommend

01/18/2017 - soxgirl13109

Bought a Single Family home in 2016 in Coventry, CT.

  • Local knowledge: *****
  • Process expertise: *****
  • Responsiveness: *****
  • Negotiation skills: *****

Eric was GREAT to work with!! He was a dual agent for us and the home seller. When any challenges arose he knew how to handle them with poise. He was in communication with us throughout the entire process. I would recommend him for all of your real estate dealings.

*****Highly likely to recommend

01/09/2017 - laurak777

Bought a home in 2016.

  • Local knowledge: ****
  • Process expertise: ****
  • Responsiveness: ****
  • Negotiation skills: ****

Eric was an amazing person to work with. He helped me through a somewhat difficult purchase that had lots of unexpected bumps. Eric always returned my phone calls and emails promptly and was above all...honest!!! So many times when you are dealing with folks who make their living on commission, you feel like they are trying to "sell" you all the time. That was never the case with Eric. He was a complete professional and nice guy. I enjoyed working with him so much that he is now representing me in another sale.

*****Highly likely to recommend

12/07/2016 - kclancy098

Bought a Single Family home in 2016 in Coventry, CT.

  • Local knowledge: *****
  • Process expertise: *****
  • Responsiveness: *****
  • Negotiation skills: *****

Eric was always so willing to work with our schedules and he took the time over 3 months to show us over 20 houses. He was very knowledgeable and would give us his honest opinion. He always gave us great and honest advice but would still do whatever we asked of him. He found us such a good deal and when we thought we were extremely annoying or need to he was always pleasant and willing to help however.

*****Highly likely to recommend

09/15/2016 - DarleneWalworth Suchecki

Sold a Single Family home in 2016 in Coventry, CT.

  • Local knowledge: *****
  • Process expertise: *****
  • Responsiveness: *****
  • Negotiation skills: *****

Mr. Lindlau is an extremely knowledgeable and professional real estate agent. He made the whole home selling experience easier and I had complete trust in him. His negotiating skills were wonderful because he is such a great people person. I guarantee that you will not be disappointed if you choose Eric Lindlau for your Realtor.