Setting the Right Listing Price in the LBI Real Estate Market

If you are thinking of selling your home on Long Beach Island, you should know that Setting the Right Listing Price in the LBI Real Estate Market is one of the most important factors. Above just about everything else, the listing price of a home will determine if you as a seller receive an offer or if the house sits on the market. While there are many other factors that play into a successful transaction, for example a strong marketing plan, the listing price of a home will drive attention to the house.

 There are a few simple steps you can take to ensure that you have set the right listing price for your Long Beach Island home.

• Select the right agent for the job
• Review the comparable sales-both active and sold listings
• Be objective about your home in relation to comparable sales
• Have a plan if the house is sitting on the market

As with any profession, selecting the right person for the job is paramount. A listing agent should have a clear understanding of the current market and be able to tell you what your house is worth without having to consult the MLS. Regardless if it is a seller or buyer market, a listing agent should have this basic information on the tip of their tongue!

As with any commodity, real estate is based on valuations. While every home is unique, it is highly unlikely that the specificity of a home will drastically alter the sales price. For example, an oceanfront home on LBI will still have a great deal of value even if the house is uninhabitable since the land retains so much value. Setting the Right Listing Price in the LBI Real Estate Market is based on both active and sold home. Recently sold homes, no more than 3-6 months old, will be useful in establishing the baseline price for a house. The current active inventory of homes should also be consulted as these homes are the direct indication of current market pricing. Once a baseline has been established, the unique characteristics of your home can be evaluated to come up with the right listing price for your Long Beach Island Home.

While Setting the Right Listing Price in the LBI Real Estate Market is key to helping to sell a house, it is far from the only step. A well thought out and proven plan should be in place to market the home for sale. Equally important is gauging the reaction to the home from the LBI real estate market. This is where feedback comes into play. If the house is listed and marketed correctly and no offers have been made after a period of time, a plan should be in place to adjust the strategy. This adjustment could come from pricing, marketing or both!

It is important to remember that selling a home in the Long Beach Island real estate market is a major financial decision. All homes will eventually sell, but Setting the Right Listing Price in the LBI Real Estate Market and marketing plan will maximize the amount of money you net from the sale of the home. For more information about Setting the Right Listing Price in the LBI Real Estate Market feel free to contact me, Nathan Colmer, and I will be happy to answer any questions you have!

 By : Nathan Colmer | The Van Dyk Group

Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com

www.BuyLBI.com

Click here to search all homes for sale in the Long Beach Island NJ real estate market

Related Articles:

• WHY PEOPLE SELL ON LONG BEACH ISLAND
• COMMON MISTAKES WHEN SELLING IN THE LBI REAL ESTATE MARKET
• LBI NJ REAL ESTATE MARKET PRINT ADVERTISING