Your Home Sold Guaranteed Realty - Reeds Real Estate

How to Price a Home in Suffolk, Virginia

Learn How to Price a Home in Suffolk Effectively

Need to know how to price a home in Suffolk, Virginia? First-time home sellers may not realize how crucial pricing strategy is to the success of their sale. Especially if they want to get their home off the market fast. 

Ultimately, your asking price will determine how fast your home sells. This impacts how much money you have in your pocket after the deal closes.

If you want to learn how to price a home in Suffolk, Virginia, our team at Your Home Sold Guaranteed Realty – Reeds Real Estate Team has you covered. The tips in this post will teach you why pricing is important and the best way to come up with a fair price. 

Why Do You Need to Pay Attention to Pricing Strategy?

Pricing your home right is critical because it determines the amount of potential home buyers who show interest in your home. The asking price is many buyers’ first impression of your home. If it’s too high, they may pass it up for a better deal.

Your listing price also influences how much money you make from the sale and how long the property spends on the market.

So, if you’re wondering how to price a home in Suffolk, Virginia, where should you start? An effective pricing strategy starts with your real estate agent. They have the tools and resources necessary to help you determine a reasonable yet competitive asking price. 

If the real estate agent suggests an asking price that isn’t what you originally hoped it would be, be sure to listen to why and have an open mind.

If you believe your property is worth more than they say, prepare yourself to explain why. You should also provide evidence backing up your claim.

Remember, your home will be up against all other properties on the Suffolk housing market– including brand new construction. So your real estate agent may be pricing your home the best way possible to increase your odds of finding a qualified buyer.

Why Should You Avoid Overpricing Your Home?

Some home sellers are often tempted to overprice their homes for a number of reasons. These include:

  • 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 in a way that creates 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. 

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 Suffolk

An optimal asking price strikes a balance between getting the home sold fast and giving you top dollar. The best way to determine a price is by working with a real estate agent in Suffolk, Virginia, to research comparable properties in your neighborhood.

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. 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. However, they’ll work with you until they come up with an asking price you’re satisfied with.

Real Estate Agents also keep on top of housing market trends in the Suffolk area and the effects they might have on your home sale. 

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

Ultimately, a real estate agent can’t control the market– but their marketing strategy will determine how successful your home selling experience is.

For this reason, it’s crucial to never select an agent based on their commission rate, friendliness, or empty promises about what they can do for you. Be sure to interview several agents. 

Look at their selling statistics 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 Suffolk, VA, and the surrounding area sell their homes fast and for top dollar. To learn more about working with us to sell a home in Suffolk, VA, give us a call at (757) 799-4824 or fill out the form below.

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