The value of your home can be influenced by the following:

Price

The price at which you are willing to sell and a ready, willing and able buyer is prepared to pay.

Time

A reasonable amount of time should be allowed to find a qualified purchaser.

Market Conditions

These are influenced by the economy, number of homes for sale, number of homes on deposit, the number of homes sold, house condition, neighborhood location, the number of buyers and financing conditions available at lending institutions.

 

How do you decide what’s the best listing Price for Your Home?

The Realtor determining your listing price must consider why you have chosen to put your home on the market. In most cases, the higher the asking price, the longer it takes for the home to sell. Over priced homes are not as competitive as those that are priced according to the present market.  Always get a CMA. Here are some important factors in determining your price:

• If you are relocating, what’s the timing of your move? Is there a company Buyout or Relo? Is your home a Short sale, or Forclosure?
• Do you have a place to relocate to? If you are buying another property, is that purchase  contingent on the sale of your present home? Do you have an outstanding mortgage or liens?
• Is the home you are selling an investment property, or your primary residence?
• A Market Analysis by your Realtor will inform you of recent home sales in your area. It important to understand the economy and market in your area. This should give you a window of opportunity.

 How much do you really want for your home $$?

 What is the Listing value verses sale price of your home?

 

The top of this triangle clearly shows the top price of the selling market for your property.

All the factors below need to be considered:

• Your needs as the seller- time and price $$.
• The location of your property and condition. Is it in a residential, or commercial area?
• v How many homes are for sale, expired, or sold in the last six months in your neighborhood?
• The economy and job market for your area.
• The base of the triangle defines the lower end of the listing value for your property. Our purpose is to get you the best price for your property, and avoid either over or under pricing it. In the middle of the triangle you will find the  fair market value of your property suggested by the CMA, economy and competitive homes in your area. The asking price within that middle range will sell your home in the least amount of time for the most money.

 Action Time

You will see the most action/interest in the first three weeks your property is on the market. New listings that are priced fairly and competitive will always be noticed by people in the market to buy a new home. It takes an average of three weeks to advertise, put up the “For Sale” sign and do an Open House.

Price your home based on the facts presented by your Realtor, other wise you could miss the market. This wastes valuable time and money and you could miss your opportunity to sell.

Calling All Buyers

Agents sell homes by aggressive marketing and exposure

Source: National Association of REALTORS™