Price Your Home Right

 

Sellers often think that a higher price will give them negotiating room. But in fact many buyers don't even look at a property that is overpriced, much less make an offer on it.

This can lead to the property’s becoming “shop-worn.” Buyers often inquire about the length of time a property has been on the market. If it has been on the market a long time, they begin to wonder if there is something wrong. The sellers then have to drop the price, taking less than they might have if they priced it correctly to begin with.

Well-priced homes attract buyers in their price range. If the buyer perceives that a home is a good buy, the seller is positioned to receive the listing price or close to it.

The best way to price your home is by conducting a thorough competitive market analysis.  The CMA finds market value of your home by comparing comparable homes that have sold, and have been unable to sell in your neighborhood. This determines the “market value.”