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What Goes into Price When You Sell a Home in Denver

October 11, 2017

As a homeowner looking to sell a home in Denver, you are in a good position to make a return on your investment. While there was a slight decrease in home prices this summer, the overall market is still very much of a seller’s favor as there is more demand than availability. However, you still need to work with your realtor to be strategic on price. They will help you determine what your home is worth to make it competitive with other homes and condominiums available in your area. Learn what goes into creating a price, any additional factors, and tips for working with your realtor.

Creating the Price

When it comes to the price of a house, every home and neighborhood is different. Depending on certain factors, a home value will change. To help create a price for your home, your realtor will do a comparative analysis on other homes recently sold in the area. They will look for homes similar to yours in terms of size, bedroom/bathroom count, and more.

Next, your realtor will ensure your house is properly priced down to the dollar to be found by prospective buyers. For instance, let’s say the average price for a two-bedroom, two-bathroom home that potential buyers were looking for was $250,000. If it is common for those buyers to search for homes in the $150,000 to $250,000 range, you would not want to price your home at $255,000 and lose out on the largest number of buyers. For more on pricing, Reader’s Digest lists the top five strategies for pricing a home to sell.

Additional Factors

There is a little more that goes into the sale of the home when it comes to price than just price alone. For starters, when you begin the process to put your home on the market, there may be a few changes you can make to help it sell. These can be as small of changes as a fresh coat of paint to as extensive as a new roof or flooring. Keep in mind that if you need to make your home comparable to others and get the price you want, you may have to make these changes, otherwise, be open to a lower price. In addition, your buyer may ask you to pay their closing costs. Closing costs are additional fees that are required to pay upon the sale of a home. During negotiations, a seller may ask for their closing costs to be paid to help them with the sale of the home. This is something you can discuss with your realtor during negotiations on the right move.

Working with a Realtor

It is important and beneficial to work with a local realtor on the sale of your home. By hiring an expert, you will have someone that will properly price the house, and give you proper guidance every step of the way. In addition, they can help you with purchasing a new home too—anything from the search to helping you find the right mortgage lender.

Is your home properly priced? Learn the ins and outs from your Denver real estate agent. To help you sell your home, you can rely on the experts at the Giving Back Group. Not only will our team help you get the most return on your investment, but we will also donate 20 percent of our commission to a charity in your name, at no cost to you. Get started today by calling us at 303-881-4881.