Your Home Sold Guaranteed Realty - Reeds Real Estate

How to Price a Home in Newport News, Virginia

Learn How to Price a Home in Newport News, VA

If you’ve never gone through the home selling process before, you might be wondering how to price a home in Newport News, VA. Setting an asking price is harder than it seems. And it plays a central role in the success of your sale.  

In this guide, our team at Your Home Sold Guaranteed Realty – Reeds Real Estate Team will explain everything. We’ll tell you why asking price is important. This is how to come up with a price that gets your home sold fast and for top dollar.

Your Home Sold Guaranteed Realty - Reeds Real Estate

Why Should You Pay Attention to Asking Price?

The majority of home buyers will see your listing price before any other aspects of your home, and they’ll use it to form an opinion on it right off the bat.

An overpriced home will turn buyers away, because they know they can find comparable properties at a cheaper price. They may not even bother reading the entire listing to see why the price may be justified.

But an underpriced home is bad for you as a home seller because it means you’ll lose out on thousands of dollars in profit.

So, how can you price your home somewhere in the middle? Pricing your home accurately diving deep into the housing market trends in the Newport News area. 

This is where hiring a real estate agent becomes beneficial. They have all the necessary resources and experience to find and interpret months of housing market data. 

They’ll use that information to suggest the best possible listing price for your home that gets it sold fast and for top dollar.

If their suggested price is lower than you’d anticipated, keep in mind that your home is entering the market alongside hundreds of other resale and newly constructed homes.

Ultimately, your real estate agent’s suggestion might be the most realistic option for getting your home off the market fast without sacrificing profit.

Why Should You Avoid Overpricing Your Home?

There are several reasons home sellers may be tempted to overprice their homes. These include:

  • More bargaining room
  • Lack of market data
  • Planning to purchase a more expensive home 
  • 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. That’s why it’s a good idea to create a sense of urgency in the minds of agents and home buyers. 

In addition, it’s also why you should never start with a high price and assume you’ll have time to reduce it later. 

Buyers and their agents are likely to notice how long the home has been on the market. If that amount of time is too long, buyers might start to think that something is wrong with the property. 

Remember that every home buyer is looking for the perfect combination of affordability and desirability. So if your house is priced correctly right off the bat, it has a better chance of selling fast. 

Why Should You Work With a Real Estate Agent to Price a Home in Newport News?

As mentioned above, the best way to determine a price is by working with a real estate agent in Newport News, Virginia.

They’ll provide you with a comparative market analysis (CMA), which takes an in-depth look at the prices of recently sold and currently listed homes in your area that are similar in terms of location, style, and features. 

Real Estate Agents are also beneficial because they remain objective. They’ll show you the facts based on the housing market. However, they’ll work with you until they come up with an asking price you’re happy with.

In addition, agents are also skilled at keeping on top of the current market trends in the area and how they might affect your home sale. Their marketing and pricing strategy will determine how successful your home sale is.

For this reason, it’s crucial to interview at least three to five agents before selecting one to work with. Look at their selling statistics and closely evaluate their track records to see if they’re the right fit to handle your home sale.

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

If you’re looking for an experienced real estate agent in the Newport News, VA, area, look no further than Your Home Sold Guaranteed Realty – Reeds Real Estate Team

Our team leaders, Kelvin and April, have helped thousands of home sellers in Newport News, VA, and the surrounding area sell their homes fast and for top dollar.

Our experienced agents will help you find a price for your home that strikes a balance between getting it sold fast and giving you top dollar. 

We also offer a number of seller’s guarantees to make the home selling process as easy to navigate as possible. To learn more about working with us to sell a home in Newport News, VA, give us a call at (757) 799-4824 or fill out the form below.


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