To be true, home selling is part art, part negotiation, part marketing, and part science.
Unlike with mathematics where two plus two always equals four, real estate has no such foolproof and guaranteed formulas for success because of the human factor when it comes to house and lot sale.
There is no certain conclusion that could be derived in a given transaction because they're all different.
Every last home has a price to meet, and sometimes they can get more than one price tag depending on the circumstances.
For instance, there's the price that value buyers would like to get, the price that homeowners want to sell their house with, and the point of concession between the two parties that can result in a sale.
Bearing in mind home values and price ranges, the following factors should be considered: Local sales prices influence the value of your home, so you should base your own pricing process on them.
To be more specific, the exact same home located in another place will more likely than not have a different price depending on where it's situated.
Discount prices aren't the end-all, be-all of real estate deals.
For instance, a sale price of one hundred seventy-five dollars is a lot better for the seller than a sale price of one hundred eighty dollars where you agree to leave the washer and dryer, repaint the entire house, fund two mortgage points, pay a two-thousand-dollar allowance for roof repairs, and make a "seller contribution" of five thousand dollars to offset the buyer's closing costs.
The supply and demand paradigm also has a significant influence with how you'll ultimately price your home.
For example, if you live in a place with a limited housing supply, a growing job base, and an expanding population, then it's likely that prices there will soar high.
Conversely, it's imperative that you keep your expectations realistic.
If your neighborhood is rife with lost jobs and migratory homeowners, then you'll mostly have a ripe buyer's market filled with bargain-priced properties.
Sale prices are not influenced by what sellers want.
When a homeowner decides that he needs to sell his house for three hundred thousand dollars because he needs a hundred thousand to buy his next home, buyers will quickly question whether or not that particular price tag is a fair or reasonable one.
If other houses are being sold for less than three hundred thousand, the seller will fail with his bid.
Then again, the needs of the seller can also impact sale prices as well.
This is particularly the case for homeowners who must sell their property quickly, because he'll have less leverage in the marketplace, so buyers will take advantage of that issue by bargaining for a lower price in exchange for a quick buck.
If a seller doesn't need to sell his property immediately, then he'll have more marketplace strength and leverage at hand.
In conclusion, if you want to sell your home, you must do everything you can in order to prepare it for sale.
You should also find a real estate agent who is best suited to sell your property.
After all, a broker is the best person to turn to when it comes to conquering your pricing problems.