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How to Price My Quad City Home


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Ruhl & Ruhl, Remax, Iowa Realty, and Mel Foster real estate agents will tell you the single most important factor to selling your home is the listing price. Acting as your own QCFSBO, agent you will need to decide at what price to list your home.  If you list your house too high you could scare off dozens of potential buyers and never get them back with “reduced price,” not to mention your home will draw the most interest in its first month of listing. If you ask too low of a price you could lose out on thousands of dollars. So, how do you properly price your home? Surprisingly it’s not hard, but will take some leg work on your part.  

Start pricing your home by looking at comparable homes within a ½ mile of your home and in the same neighborhood. If you live in a rural area or a neighborhood which has not had many people sell their homes recently, you may need to go outside these boundaries. Key similarities to look for are: square footage, age of home, number of bedrooms & baths, and updates, if Pictures courtesy of http://www.merchantcircle.com/possible.

I started looking at Quad City real estate brokers’ sites and other Quad City homes for sale websites. These webpages will have house pending and recently sold markers on them and will have an idea of what their starting price was. You can look at houses which have not sold, too, but remember, the house has not sold yet. Another huge resource is your county assessor. Most of these sites will allow you to search for comparable sold homes and the price they sold for.

Acting as your own agent, you can also look towards outside resources. You will want to consider hiring a real estate appraiser. You will get an accurate market value of your home and will take the emotional and hopeful wishing out of your hands. Some realtors out there, such as Sarah Broyles, will help you with a market analysis. Don’t be afraid to give them a call and ask for a market analysis. Some realtors will do this for free.

Being your own QCFSBO agent gives you an excellent advantage vs. realtors. Realtors may include their fees into the asking price and you will not have to do that. Let’s say you decide to leave your agent because your home has drawn very little interest over the past 6 months. Your agent had it listed for $200,000. Subtract the usual 7% realtor fee and you would have received $186,000. Acting as your own agent, you can now list it for $192,000. You will draw more interest with a lower price, draw a different clientele, and you will make $6,000 MORE than your realtor’s asking price... WINNING!

Pictures courtesy of http://www.merchantcircle.com/

 

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