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How to pick a listing price when selling real estate

On Behalf of | Mar 15, 2022 | Real Estate Law |

One of the top concerns individuals have when selling a home in Texas is the listing price. Asking for too much can turn off buyers, while asking for too little can attract lower offers than would otherwise be possible. Here are some steps sellers can take to figure out the ideal listing price for their home:

  • Talk to the professionals: Real estate agents are in the business of buying and selling homes, which means they usually have a good idea of what homes are going for. Even if one does not plan on hiring an agent outright, it can still help to talk with a few and get a ballpark range for the home.
  • Check out comparable sales: Do some online research to see the sale price of similar homes in the area. The more similar the property, neighborhood and timing of the sale, the closer one might expect the sale prices to be.
  • Research the competition: Supply and demand are certainly factors when picking a sale price for a home. Look at how many properties are for sale with a similar makeup when deciding where in the acceptable range to list the home. If there is a popular feature that few homes have, like a finished basement, it may be possible to attract a higher offer.

When preparing to sell a house, picking a listing price is just one of many things one should do prior to going on the market. House fixes, staging, and research about the general real estate trends in the area are all good steps to take in most cases. In addition, connecting with a Texas real estate attorney is an important step to ensure every stage of the home sale process is legally sound.

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