How to Price Your Unique House 2022
If you’re lucky enough to own an unusual or unique home, you may be wondering how to price it. After all, traditional real estate pricing methods may not work for a one-of-a-kind property.
When I became a brand new real estate agent, I learned how to price a house. We compared five or six houses in a subdivision, located along a single street.
Each house had basically the same look from the outside. We learned how to price a house, by comparing the neighboring properties to the “subject” house – the house we were trying to determine how to price. We used a form like the one below:
Determining how to price your unique house can be quite challenging but is definitely doable!
There are a few things you can do to help set a realistic and fair price for your unusual home:
1. Do your research: Look at comparable sales in your area to get an idea of what properties have sold for — even if they’re unlike your home. This will give you a good starting point.
2. Work with an experienced real estate broker: A real estate agent who knows the market and has experience pricing unusual homes can be a valuable asset. He or she can help you determine a fair price for your home based on its unique features, the current market conditions, and recent sales data. Listen to them!!
3. Consider all potential buyers: When pricing your home, it’s important to keep in mind that not all buyers will be willing to pay the same amount. Some may be looking for a bargain, while others may be willing to pay more for a one-of-a-kind property. It’s important to strike a balance so that you don’t alienate any potential buyers.
4. Be prepared to negotiate: Because there may not be more than one interested party in your unusual home. Remember that they will be taking into consideration the challenge of selling a property such as yours later on.
5. Buyers these days are savvy. By the time they arrive to take a look at your house, they have done their research. Expect that they are well educated about your home, your mortgage, the length of time you’ve been trying to sell, the pluses and minuses of your type of home, etc.
It is far better to have more showings and less room to negotiate than a lot of room to negotiate and no showings!
If you follow these tips, you should be able to come up with a fair and reasonable listing price for your unusual home.