The Benefits of Pricing it Right
Many sellers believe that if they price their home high initially, they can lower it later.
Often, when a home is priced too high, it experienced little activity. Gradually the price will come down to market value, but by that time it’s been for sale too long and some buyers will be wary and reject the property.
On occasion, the price is dropped below the market value because the seller runs out of time and the property sells for less than it’s worth.
Getting to know your Market
A comparative market analysis is an indicator of what today’s buyers are willing to pay for a home. It compares the market activity of homes similar to your’s in your neighborhood. Those that have recently sold represent what buyers are willing to pay. The homes currently listed for sale represent the price sellers hope to obtain. Those listings that have expired were generally overpriced or poorly marketed.
Your Real Estate Professional will prepare a comparative market analysis for your home based on the most current market information. Together you and your Real Estate Professional will establish the proper list price for your home.