Most buyers will shop in $25,000 increments. For example, someone will set their budget between $350,000 and $375,000, or between $400,000 and $450,000. This is also how most real estate websites will set their pricing search menu when visitors are shopping for homes. Keep this in mind when you are considering a final list price. If it is determined that your house is worth around $370,000 to $380,000, rather than listing the property on the market for $377,000, set the list price at $375,000. Then, everyone who has a maximum budget of $375,000 will see it in their searches. And it will also be seen by someone whose budget is $375,000 to $400,000. You will maximize the exposure of the home and have a better chance at selling it quicker.
THE COMPARATIVE MARKE TIVE MARKET ANALYSIS
When it comes to finding a buyer, pricing your home based off of comparable, real-priced sales is crucial to making the sale. The Comparative Market Analysis (CMA) is imperative to pricing strategically. When you ask for one from a real estate professional, be sure to review the analysis, ask questions, and get explanations. If completed correctly, this comparison report not only gives you a great listing price, but also reduces the chance of your home being under-appraised. If you have a well-priced home, you should be showing within the first few days on the market. Offers should come within weeks.
PERCEIVED VALUE
If the perceived value of your home by a potential buyer is greater than the actual price, the more willing he is to buy. The urgency to buy disappears, the closer the price and perceived value are. This means marketing the home to match the buyer’s specific needs and desires. A real estate agent can help you know the buyer’s hot buttons, such that marketing and presentation can be tailored accordingly.
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