As a real estate agent, you want to ensure your clients get the largest return on their home and that it spends minimal time on the market. A key to attracting the ideal buyers is properly pricing the home. Going too high may drive some away; going too low will cut into the return. If you’re assisting with selling a house in Rapid City, SD, use the following tips to get an accurate value.
Your Guide to Pricing a Home for Sale
1. Suggest an Appraisal & Inspection
Anyone selling a house should schedule a home inspection and appraisal. Inspectors will take a detailed look at all the home’s systems to determine if any repairs are needed, while an appraiser will provide a full breakdown of what contributes to value, such as a new HVAC system or renovated plumbing.
2. Look at Sales Histories
To gauge what buyers are willing to pay for the home type, look at sales histories in the area. Focus on identical homes; if 3-bedroom, 2-bathroom homes have steadily sold at an even price, your best bet is pricing in the same ballpark. You can use this as a foundation to then increase the price if warranted based on any unique amenities the appraiser considers to add value.
3. Look at Competing Listings
The real estate market is constantly fluctuating, and home value goes with it. Look at similar listings in the area. It will let you know how the property is priced according to the market. You’ll need to remind your clients to set their emotions aside; the home is only as valuable as the market sees it. You may want to advise on them selling a house at a later date if the market is in a slump.
Ready to make the most of your career in real estate? EXIT Realty Black Hills of Rapid City, SD, is proud to provide real estate agents with all the resources and opportunities to excel. Whether you’re selling a house, buying, or investing, they’ll offer support and education so that you can best serve clients and grow your career. Call (605) 716-3948 to speak with an associate, and visit their website to learn more about starting your real estate career. Stay up to date with news and updates by connecting on Facebook.