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Tips for Selling Your Memphis Home for the Best Price

When it comes to listing your home, you might be confused on what price to list it at to entice buyers. Depending on the market you are selling in, some homes might be quite competitive and some housing developments might be difficult to buy in, leaving you with a window to charge more for a selling price. Memphis has a lot of exciting commercial development happening, but as far as residential development, things are at a bit of a standstill. For this reason, it is a great time to sell because not many new homes are being built, so inventory is limited. Whether you are moving from Memphis to another city or just to another neighborhood, here are some tips to consider when selling your current house.

The best tips for pricing your home include:

Studying the market

See local trends and see what similar homes are selling for in your area. You want to be competitive but also have an edge. Look up what similar homes have sold for in the last 30 to 60 days and how long they've been on the market. You can also see whether those homes sold for less or more than their initial asking price.

Be patient

As with most things in life, patience here is key. Being patient and trusting the experts (i.e. your realtor) will help you to remain stress-free and should make you feel confident that the process is done right.

Have a deadline set

One strategy that can help create competing bids among potential buyers is to require that any offers be made within the first week or two that the home is on the market. Have an open house along with the listing announcement and bank off of that excitement. The newer a home is to the market, the more anticipation there is to see it.

Keep your team local

Agents from the area will be most informed about the market. Resist the urge to go with the big name realtor without checking stats, and also the newbie realtor who might not have the best knowledge. Also, there are higher chances you’ll know a local appraiser, inspector, real estate attorney and more. Several real estate websites, including RatedAgent.com, Zillow and Trulia have sections for finding an agent by location. They also feature reviews from past clients and other attributes to help narrow your search.