5 Criteria for Pricing a Home

The article below is for real estate professionals to use on their own blog or website copyright free.


When you put your home up for sale, one of the best ways to determine the asking price is to look at comparable sales. There’s rarely a perfect apples-to-apples comparison, so a pricing decision often relies on comparisons to several recent sales in the area. Here are five criteria to look for in a sales comparison.

  1. Location: Homes in the same neighborhood typically follow the same market trends. Comparing your home to another in the same neighborhood is a good start, but comparing it to homes on the same street or block is even better.

  2. Date of sale: It varies by location, but housing markets can see a ton of fluctuation in a short time period. It‘s best to use the most recent sales data available.

  3. Home build: Look for homes with similar architectural styles, numbers of bathrooms and bedrooms, square footage, and other basics.

  4. Features and upgrades: Remodeled bathrooms and kitchens can raise a home’s price, and so can less flashy upgrades like a new roof or HVAC system. Be sure to look for similar bells and whistles.

  5. Sale types: Homes that are sold as short sales or foreclosures are often in distress or sold at a lower price than they’d receive from a more typical sale. These homes are not as useful for comparisons.



breakthroughbroker
Technology, marketing, & strategy your real estate business needs!

Being a Real Estate Professional is challenging. Finding the time and technology to stay top of mind and generate new business is a full-time job. Breakthrough Broker is here to help.

Equipped with features such as:

Workbooks, checklists, playbooks, and workshops to support the growth and management of your business.
Easy-to-use marketing technology to create and customize professional marketing designs.
Direct mail marketing services and engaging social media content.

Create your free account and join over 600,000 other real estate pros.

Create Free Account