HOW TO DETERMINE WHI TERMINE WHICH COMPARABLE SALES T LE SALES TO USE AND WHICH TO IGNORE: Avoid relying on the following types of comparable sales: • Bank-Owned/REO Properties: These tend to sell for less than their actual value, even in good condition. • Short Sales:These are often avoided by buyers and agents due to their complexity and unpredictability, resulting in a smaller pool of potential buyers. • Ugly Homes:** Poorly maintained properties typically sell for less, while well-kept homes may fetch significantly more, especially if professionally staged. Consider the local market conditions:
IN A SELLER'S MARKET:
Price competitively with other current listings, taking into account rising prices.
IN A BUYER'S MARKET:
Adjust your price if your home is not selling, aligning it with the competition. Timing plays a crucial role in the sales process. Waiting too long for the perfect offer can deter potential buyers, leading to lower offers. The initial offer is often the most lucrative, according to market statistics. Conversely, if you need a quick sale, you may have limited negotiation flexibility. Providing incentives can nudge potential buyers and make them feel like they're getting a great deal. Consider options like offering allowances for decorating, new appliances, landscaping, or covering closing costs. 78
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