343 Nassau St, Princeton, NJ 08540
343 Nassau St, Princeton, NJ 08540
What Agents Consider When Setting Listing Prices
There’s no online calculator for setting the perfect listing price for your home. It takes experience, market savvy, and even a bit of psychology. A strong listing agent can help you set the right, most competitive price for your home. Here are a few things they might look at:
1. The competition
Your agent will look at the prices of similar homes in your area that either are currently listed or sold during the past few months. They’ll take into account how many days the properties were on the market, and how the listing prices for those homes differed from the final sale prices.
2. Market trends
What’s affecting the market in your neighborhood, and your region? Your agent will consider national factors that shape the real estate market, such as possible rising interest rates, as well as local factors, like whether the average home price in your neighborhood has been rising or falling. They’ll also think about things such as new companies moving to the area in the near future, or plans for improving local amenities, like parks and shopping districts. All can increase the value of your home to a buyer.
3. Your neighbors
Although a home the same size and age recently sold for a high price, your own place might not fetch the exact same fortune if, say, junky cars continue to proliferate in your neighbor’s driveway. On the flipside, if the grass is in fact greener on the other side of the fence, your home’s value may be higher due to your neighbors’ curb appeal.
4. The Goldilocks price
Listing your home at a price that’s “just right” from the start is critical to selling it quickly, for the best price. Overpricing your home, and then dropping the price a few times while it sits on the market, could lead to a lower final sales price than if the home was priced appropriately from the beginning. And, of course, setting a price that’s too low leaves money on the table.
Wondering how much your home might be worth in today’s market? Find a local RE/MAX agent who can explain how these and other considerations could factor into a pricing strategy for your home.Back to all posts
Doug worked with us to get our first home. He clearly understood our requirements and would give his impartial opinion after each viewing with his rationale. The detailing helped us in narrowing down our options. He is extremely patient and is highly responsive. His negotiation skills are par excellence which helped us get a good deal. He has a great team of people to work with right through the process. Overall highly positive experience and I would recommend Doug to any prospective buyer.
We have worked with Anna both as sellers and buyers on numerous occasions and would not use any other Realtor! Her knowledge of the neighborhoods and market as well as her unique marketing efforts make her a tremendous, well-rounded agent. Anna recently helped us navigate through a purchase of an investment property and her experience played an important part in making it a smooth transaction as well as a sound investment. Thank You Anna Shulkina!
Very professional, honest, knowledgeable. Jim was able to explain me a lot of details that entailed the business transaction. He was always patient and thoughtful when sharing his knowledge with me. I was always able to count on his best advice and professional judgment I am grateful for all the help Jim provided me in the process of getting my new home.