|
How Sellers Price Their Homes
There are four basic factors that influence how sellers price their homes. 1. Sellers Get Poor Advice Some real estate agents inflate the value of the seller’s home in an effort to obtain the listing. There’s a natural tendency on the part of sellers to list with the real estate agent who gives them the promise of the highest selling price. When homes are overpriced, they - Stay on the market longer
- May not sell
2. Sellers Set an Unrealistic Price for Emotional Reasons These sellers believe their home is worth every penny of their asking price for personal reasons. Sometimes they lose their objectivity and focus on features that seem more valuable to them (rather than to the buyer). For example, the suede wall-covering in the master bedroom may not appeal to potential buyers. Additionally, some sellers, anticipating reticence to buy, feel it’s a good idea to leave a little “negotiating” room in the asking price. 3. Sellers Price their Home at Fair Market Value These sellers carefully and realistically study other homes for sale, and may consult with a real estate professional. They price their home competitively, and it usually sells quickly at (or very near) the asking price. 4. Sellers are Motivated to Sell When sellers want a fast sale, they price their home below fair market value. These homes usually sell right away, at or above the listed price. There are usually competing offers. This Free Report prepared for you by David Puddy, Sales Representative, Re/Max Erie Shores Realty Inc., Brokerage 519-410-3283 www.ThePuddyTeam.com We’ll help you determine the fair market price for any home. Our job is to ensure that you have the tools and information you need to make an informed decision. We’ll help you every step of the way.
|
