Your Home Sold Guaranteed Realty - Reeds Real Estate

How to Price a Home in Chesapeake, Virginia

Learn How to Price a Home in Chesapeake Effectively

Want to learn how to price a home in Chesapeake, Virginia? If your goal is to sell fast, coming up with a fair listing price is key. The asking price you set for your home ultimately determines the course of the entire sale, and whether or not it’s successful. 

In this post, our team at Your Home Sold Guaranteed Realty – Reeds Real Estate Team will cover why you need to pay attention to pricing strategy if you want to sell your home fast and make the most amount of money at the same time.

Why Is Pricing Strategy Important?

Figuring out how to price a home in Chesapeake, VA, can be hard for first time home sellers. Pricing your home right is critical because it determines:

  • The amount of potential home buyers who show interest in your home
  • How much profit you walk away with after the sale
  • How fast your home sells

An effective pricing strategy starts with researching your neighborhood to find recently sold and currently listed properties. Ultimately, your real estate agent will help you determine a fair asking price for your home. 

If you believe it’s worth more than other homes in the area, you’ll need to explain why. You should also provide evidence backing up your claims. 

However, prepare to adjust your expectations. If a real estate agent suggests an asking price that isn’t what you originally hoped it would be.

Remember, your home is going to be competing against newly constructed homes, not just other resale homes. So your real estate agent may be pricing your home in a way to get it to get it to stand out to interested buyers and increase your odds of a quick sale.

Why Is Overpricing Your Home Dangerous?

Some home sellers may be tempted to overprice their homes for a number of reasons, such as:

  • More bargaining room
  • Lack of factual data
  • Purchasing a new home in a higher-priced area
  • Emotional attachment
  • Opinions of family and neighbors

Most of the activity on a recently listed home will occur in the first few weeks it hits the market. As a result, pricing a home properly and creating a sense of urgency in the minds of agents and buyers is critical. 

That’s why you should never start with a high price and assume you can simply reduce it later. 

Lowering the price can actually look bad to potential home buyers. Buyers and their agents are likely to notice how long the home has been on the market. If it’s been listed too long, buyers will be hesitant to make an offer because they fear something is wrong with the property. 

Every home buyer is looking for the perfect combination of a high-quality home at the best possible price. So if a house is priced correctly right off the bat, it will sell quickly. 

How a Real Estate Agent Can Help You Price a Home in Chesapeake

An optimal asking price strikes a balance between getting the home sold fast and giving you top dollar. The best way to price a home in Chesapeake is by researching comparable properties in your neighborhood.

A real estate agent in Chesapeake, Virginia, will have the tools and resources necessary to do this research effectively. 

They’ll be able to provide you with a comparative market analysis (CMA), which is an in-depth comparison of the prices of recently sold homes in your area that are similar in terms of location, style, and amenities. 

In addition, real estate agents remain objective and neutral. They don’t tell you what they think your home is worth based on opinion or what they know you want to hear. 

Instead, they show you the facts based on the housing market. From there, they’ll work with you to come up with an asking price you’re satisfied with.

Agents are also great at keeping up-to-date on the market trends in the area and the effects they might have on your home sale. 

We Can Help You Learn How to Price a Home in Chesapeake, VA

Ultimately, an agent can’t control the market – but they do control the marketing plan that will influence the success of the sale.

For this reason, it’s crucial to never select an agent based on their commission rate or empty promises about what they can do for you. When interviewing agents, you need to look at their numbers and closely evaluate their track records to see if they’re the right fit for you.

At Your Home Sold Guaranteed Realty – Reeds Real Estate Team, we believe in doing things differently. That’s why we offer a number of seller’s guarantees to make the home selling process as smooth and stress-free as possible.

Our team leaders, Kelvin and April, have helped thousands of home sellers in Chesapeake and the surrounding area sell their homes fast and for top dollar. To learn more about working with us, give us a call at (757) 799-4824 or fill out the form below.

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