As a homeowner, saying goodbye to your property can be difficult, especially if you lose money on a sale. It is paramount to get the best price for your home in North Georgia Mountain realty despite the state of the housing marketing. However, you can get a reasonable price even in the most challenging markets if you know how to navigate a deal better. The best way to ensure selling your home for the most money is to hire professional realtors in Blue Ridge, GA.
Here are some tips to help you get the best price and maximum equity on your home.
Get a Deeper Understanding of Your Local Housing Market
The housing market is constantly evolving, whether on a global scale or locally. This makes predicting the housing trends challenging, especially if you are not a real estate professional. That is why hiring a realtor in Blue Ridge, GA, is vital in order to decrypt and understand your local housing market.
Real estate agents understand the housing market, and with their years of experience, they can accurately read and predict the present and future market conditions. This helps you price your property reasonably compared to competitors and the features provided.
Competitively Price Your Home
Setting the price for your home can be critical. Pricing it too high will inadvertently scare off buyers and send them to your competitors. Meanwhile, pricing it too low will lead to you getting ripped off by leaving money on the table. Therefore, the best way to have a balanced price is to analyze your competitors’ prices. Doing so allows you to look at comparable property prices from a buyer’s point of view.
An experienced realtor can help you determine the correct price of your property while keeping the prices of the competitors into consideration.
Using Strategic Price Points for Your Home
Strategic price points have been a long-standing marketing technique that is used in all walks of life. For example, you may have encountered grocery prices of $4.99 instead of a $5.00 price point. This is used to make the buyer think they can get more for less money, even when it is just a difference of $0.01. This can be applied when selling your home by listing your home at prices like $248,900, which can help attract more buyers of the same price range than pricing it at $249,000.
Furthermore, new homebuyers often filter out homes based on their budgets at increments of about five to ten thousand dollars, which makes you receive a high number of interested buyers for your property priced at $229,900 as a property priced at $227,900. This helps you extract more prices without losing out on potential homebuyers.
Value Range Marketing is Your Greatest Ally
Value range marketing is a pricing method that can substantially increase the number of offers on a property. For this technique to work, you need to pick a pricing range based on what you would sell your property for if it was going to be an instant sale. After that, you will need to determine a lower price that you would agree to start negotiating. For example, if you were going to set a price of $355,000 for your property, try listing your home for a price between $315,000 and $355,000.
Offering Incentives to Buyers
Typically, a homebuyer narrows down their options to about 3 top choices. If your property makes it to the top 3, you may need to convince them to pick yours over three equally competitive homes. In order to sway them in your favor, you can offer several incentives like buying down the interest rate on their purchasing loan, offering to pay for closing costs, inspections, or any repairs (if necessary). You can go further and even offer credits for home upgrades after closing the deal.
If those are not enough, you can also offer to prepay for a few services like internet, taxes, homeowner association fees, or give them free memberships to the local country club.
Getting Pre-Listing Home Inspections and Appraisals
By getting a pre-appraisal, you will have a defining value for your property that an independent party evaluates. This can help you during the negotiation phase. You can also opt to get an inspection done in order to verify that your property is in top-notch condition, which justifies the price. However, getting your home pre-inspected can be a double-edged sword if you have substantial damage or issues as they have to be disclosed to the potential buyer and may drive your prices down or dissuade them from closing a deal.
Hiring Professional Realtors in Blue Ridge, GA
Every North Georgia mountain realty company is built differently. A real estate agent who knows the ins and outs of your local housing market and has sold a plethora of properties in the region can correctly evaluate your home’s potential. On the other hand, hiring a real estate agent that is not as experienced can result in your property being severely undervalued. It is essential to pick the correct agent when selling your home.
The best way to hire the right realtor is to ask your friends, family, and colleagues for recommendations. They can offer their personal experiences and give you insight into what qualities an agent provides. You can interview multiple realtors before deciding on hiring one to take on the sale of your home.
The Bottom Line
When selling or buying your home, it is vital to have a sound understanding of your local housing market. You can follow these tips to ensure you get the best price for your home. However, most of these strategies will not yield an impressive result without hiring professional realtors in Blue Ridge, GA.