Determining the Listing Price
Pricing your home is an art -- not a science.
Achieving the optimal price is the result of both objective research into similar properties and instinct in determining how
much a buyer will be willing to pay for your home. The right price will attract showings, which will generate offers.
The unfortunate fact is that price is the number one factor that most homebuyers use to determine which homes they
want to view. It’s also important to remember that although you and your Realtor set the asking price, the selling price is
determined by the buyer.
The Correct Price Will:
Result in a quicker sale, with less inconvenience to the seller
Expose the property to more buyers
Increase Realtor response
Generate more ad calls
Prevent your listing from getting "stale" or "shop worn"
Typically homes that sell more quickly, sell closer to or sometimes over asking price.
Some Common Reasons for Overpricing
Over-improved property
Original purchase price too high
Desire for "negotiating room"
Overpricing Pitfalls
Most of the activity on your home will occur in the first few weeks. Pricing a home properly creates immediate urgency in the
minds of buyers and agents.
There is a pool of buyers who have seen most available homes in their price range and are now only waiting for new
listings or price reductions. A buyer that has been waiting, may fail to see your home if it is priced too high.
Sometimes, a price reduction may be too late, as interest by both buyers and Realtors, may have waned.
Buyers and their agents are very aware of the length of time on the market, the most common question continues to be:
“How long has it been on the market?” Often buyers are reluctant to make an offer on a home that has been on the
market for “awhile” thinking that there is something wrong with the home.
Unfortunately, overpriced listings frequently help you to sell your neighbor’s reasonably priced home, making it appear
that their home is priced very well.
The Role of a Real estate Agent in Pricing
Provide you with a comparative market analysis, which is a comparison of recent homes with similar amenities that are
available, in escrow and sold.
There is no “exact price”; your home is worth what a buyer is willing to pay.
The market determines value; together you and your agent determine asking price.
Realtors have no control over the market, only the marketing plan. The seller determines the asking price. Never select
an agent based on price.
Pricing your home is an art -- not a science.
Achieving the optimal price is the result of both objective research into similar properties and instinct in determining how
much a buyer will be willing to pay for your home. The right price will attract showings, which will generate offers.
The unfortunate fact is that price is the number one factor that most homebuyers use to determine which homes they
want to view. It’s also important to remember that although you and your Realtor set the asking price, the selling price is
determined by the buyer.
The Correct Price Will:
Result in a quicker sale, with less inconvenience to the seller
Expose the property to more buyers
Increase Realtor response
Generate more ad calls
Prevent your listing from getting "stale" or "shop worn"
Typically homes that sell more quickly, sell closer to or sometimes over asking price.
Some Common Reasons for Overpricing
Over-improved property
Original purchase price too high
Desire for "negotiating room"
Overpricing Pitfalls
Most of the activity on your home will occur in the first few weeks. Pricing a home properly creates immediate urgency in the
minds of buyers and agents.
There is a pool of buyers who have seen most available homes in their price range and are now only waiting for new
listings or price reductions. A buyer that has been waiting, may fail to see your home if it is priced too high.
Sometimes, a price reduction may be too late, as interest by both buyers and Realtors, may have waned.
Buyers and their agents are very aware of the length of time on the market, the most common question continues to be:
“How long has it been on the market?” Often buyers are reluctant to make an offer on a home that has been on the
market for “awhile” thinking that there is something wrong with the home.
Unfortunately, overpriced listings frequently help you to sell your neighbor’s reasonably priced home, making it appear
that their home is priced very well.
The Role of a Real estate Agent in Pricing
Provide you with a comparative market analysis, which is a comparison of recent homes with similar amenities that are
available, in escrow and sold.
There is no “exact price”; your home is worth what a buyer is willing to pay.
The market determines value; together you and your agent determine asking price.
Realtors have no control over the market, only the marketing plan. The seller determines the asking price. Never select
an agent based on price.
| Realistic Listing Fees For This Unrealistic Market Click Here Or Doug Baird For More Details 616-554-5796 |
