How to Price Your Home - Do You Need a Realtor?

It is possible for you to repair, list and sell your home on your own, but it is important that your price is right and your expectations are realistic. There is nothing more damaging to the sale of a property than having to continually dropping the price until it will sell (and it may not even sell if you do drop the price). There are important things to do when you decide to price your home yourself. You need to be objective about taking a look at your home and its worth. It is important to take the emotional attachment out of the equation. The prospective buyers of your home aren't going to care about how many memories you have made in your home, how much money you need for your next down payment, or how much you have put into repairing your home over the years. What they are going to care about is getting a fair and agreeable price for what your home is actually worth. Know how much other homes like yours are selling for so that you have a starting point for your pricing. Knowing how much other homes similar to yours are selling for (or have sold for) will give you a good idea of how much you can expect to get for your home, as well as how much you may get for an offer if you decide to price your home a little higher. A good place to start is by looking for similar homes on a website like Realtor.com/ You can expect that your prospective buyers will do their research (or their Realtors will) so you need to be prepared to defend your price or bargain. If your based out of Rochester like I am, try to go to open houses with a Rochester MN Realtor so that you can get a good idea of what it is going to feel like when you are in the same position. It is important to go into their homes just as they would yours, be completely objective and open. However, you need to consider the location, as well as the repairs they have completed on their home and the overall condition of the home. What it comes down to, if all houses were the same price, would you buy your house or their house? That little question will be the driving force behind your pricing technique. It is also important to take into account the condition of the market you are selling in. The house prices may be very high, but are they selling? How long is it taking to sell? Are the prices having to be dropped significantly, in order for them to sell? All of these questions are questions that should be answered before you make a choice on price so that you can make sure you are going to get a fair amount for your home. All things considered, it is still possible to sell your home on your own. It will cut out the Realtor's fees as well as give you the experience for the future to get a good deal on your next house. Being an informed seller can also make you an informed buyer, allowing you to feel more in control of the situation and able to make a good decision.