How To Set Your Asking Price When Selling a Home in Little Rock

Who doesn’t want to make some money when selling your home in Little Rock? Now, you don’t want to overprice and deter buyers, but you also don’t want to price too low and lose out on profit. It’s important to really find that happy medium.

There are some strategies that you can use to find what that perfect asking price is for your home.

Be Aware Of The Market You Are In

Know Your Market to Set Your Asking PriceThe first thing you will want to do is gather some comparable homes in your neighborhood and find out how much they have recently sold for. You can do this on Zillow or you can contact a realtor and ask them to run a “comp” report for you. Best practice is to look at the recent sales in the past 6 months. If you can’t find enough comps, then you can expand your search to the last 12 months.

If a home has been on the market for awhile, it is likely priced too high. Think about supply and demand, if there are many homes on the market, buyers will be at an advantage.

Be Realistic

The truth is, you don’t determine the price for your home – the market does. Even if you have a feeling about how much your house is worth, buyers will turn to the evidence on the market and be able to know what your house is worth.

Buyers obviously want to get a good deal on real estate and you as a seller want to get the most that you can for the house. As I mentioned earlier, it is really important to find that sweet spot so that you can meet in the middle.

You don’t want to constantly go through price modifications on your home. If a buyer see’s that your home has had a price drop numerous times, that gives them leverage because it makes you seem desperate.

If you are unsure what you might sell your house for, you can contact us at Sunny Day Homes LLC by calling (501) 400-0505.

Ask Your Family and Friends

Real estate professionals are not the only ones who you should be talking to about the value of your home. You can also ask friends, neighbors, and family. Ask for their opinion and see what they would pay for a home like yours.

Get Creative With The Sale

As a seller, you have some creative options on your side. You can lower your price a bit but require that the buyer takes care of the closing cost/fees OR you can require them to take the property in ‘as-is’ condition. You have some options on your side as a seller to structure a creative deal, don’t be afraid to explore this option.

If you have any questions about buying or selling property in the Little Rock area, fill out this form, and we will be in touch right away! Or call our office directly now! (501) 400-0505

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