5 Basics on Pricing Your Home to Sell

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Pricing your home to sell is the most important—and one of the hardest—steps you'll encounter in the selling process. To get you started, here are five basics to help you determine the best listing price for your home right from the start.

1. Know your high- and low-end goals. Be sure to build in some cushion for negotiating, but remember to be realistic. Nothing holds up a home sale more than an inflated price.


2. Factor in all the costs to selling your home. This includes agent fees, listing fees, loan payoffs and repair expenses.


3. Get a home pricing report, which will show recent and pending sale prices of other homes in your area. Use your pricing guide to further understand home values in your area.


4. Hire a professional appraisal. An accurate appraisal is key to pricing your home properly. 30% of deals are lost due to the home selling price being more than what the bank is willing to loan based on the appraisal.


5. If your house has undesirable characteristics that cannot be changed—say, the size of the yard or its location on a busy street—you will have to deduct 5-10% from the value it might have if those characteristics were favorable. Do additional research to see how much you must deduct to compel a buyer to overlook those drawbacks.

Download our pricing guide for more tips on how to make sure you price your home right from the start.

Have questions about how to price your pad? Ask us in the comments or on Facebook!