6. Manage Blog

What Price Should I List My Property For?

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Market price and maybe less.

When trying to sell a property, you should pick your price based on you goals. If you are trying to sell a property to get cash for another investment then you want to set an aggressive price. Sometimes the amount of money lost in the price is not as bad as the lost opportunity on another investment.

The first thing you need to do is look at the comparable. A Realtor will be able to provide you with a list of houses that sold and that are listed in your area. Even if you are not using your Realtor for the sale, they should still be willing to provide you with this information. If not, then find another Realtor.

You should set the price of your property similar or less than the average price of the comparable. Look at these other properties to make sure they are “similar” to your property. Once you are comfortable with the price, reduce it a little bit more. If you want to sell fast, that will help.

Be careful that you don’t list your property too high or especially above a certain threshold where you will be left out of some searches. For example, if people are looking for a house less than $300K and yours is listed at $305K they may never see it, even if you are willing to take less than $300K. The other problem with setting the price too high is that if it doesn’t sell right away and it stays on the market longer, people will start coming in with “low-ball” offers because they think you are getting desperate.

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