Should You Raise the Asking Price of Your Home?

Pricing strategies

There are several strategies homeowners can follow when setting their initial asking price. Often sellers try to undercut their competition, but there are times when it actually makes sense to list your home for a higher price.

You should feel comfortable listing your home for a higher price when your residence offers more than other listings in your area. Maybe your kitchen was recently renovated or you have more storage that sets your home apart from all the others. These features may justify an asking price that’s a bit higher than other homes in your area.

Finally, frequently check market conditions to see if they have changed since you initially listed your home. If you notice more buyers are entering the market and homes are selling quickly, raising your own asking price might be a good move.

Setting the right asking price is a challenge you’ll face when listing your home. That’s why it’s so important to work with a real estate agent who knows your market. Find a Mel Foster Co. agent who specializes in listings in your area.

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