The main part of the marketing plan is setting the list price. If a home is priced too low, you won’t profit from the optimal profit. If a home is priced too high, possible buyers may be scared away. To determine the best asking price review the cost of newly sold homes, calculate the competition and study marketplace trends. It is also helpful to discuss other terms and conditions, such as timing and items that can be included with the sale of the home. Both of these can make your home more attractive to buyers.
1) Location: You can't keep away from this one. If your house is situated in an advantageous area that is in demand, you will be able to get a higher price than you can for the same house in a less advantageous area.
2) Condition: A house that has been well maintained and shows in good health will always sell for more than one that has had deferred (neglected) maintenance and needs work.
3) Desirable amenities: If a house has amenities that are presently popular in the marketplace, it will bring a higher price.
4) Calculate the price per square foot: The average price per square foot for homes in your region shouldn't be the sole determinant of the asking price for your home, but it can be a useful starting point. Keep in mind that various methodologies can be used to calculate square footage.
A formal written appraisal can be useful if you have exceptional property, if there hasn't been much action in your area recently, if co-owners disagree about price, or if there is any other situation that makes it difficult to put a value on your home. Appraisers consider the location of the home, its proximity to desirable schools and other public facilities, the size of the lot, the size and condition of the home itself and recent sales prices of similar properties, among other factors.
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