A real estate agent can help you sell your home and help you find a new one, but they won’t be able to make you an offer. That decision is made by the buyer.
But buyers do base their decisions on two things: price and location.
Your competitors are your best resource when it comes to determining the price of your home.
Most homeowners who list their homes for sale do so because their houses aren’t selling. But investors often list properties with an agent only to take them off the market before they’re ready to sell.
A homeowner who wants to sell his or her house quickly will sometimes list it at a price that’s slightly below the median price. The agent will then try to find a buyer willing to pay that price. If none are available, the seller will lower the price again.
But homeowners who list their homes at market value or slightly above will never sell. Investors who do so are gambling that they’ll find a buyer at a higher price — and that they’ll stay above that price until they sell.
One element of pricing that impacts both home and home prices is income. The more money you earn, the higher your home’s worth, and the higher your home’s worth, the easier it is to get a buyer to pay a higher price.
Location is also an important factor in pricing.
If you have a nice home in a quiet neighborhood, it’s likely that you’ll get a better price than if you in a busy neighborhood with no amenities.
That’s why it’s critical to understand what’s driving your competition’s pricing strategy.
What can Your Competitors Can Teach You About Real Estate?
