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. When 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. For example, my wife and I were looking for a larger home for our growing family. One new home we saw was nice, but underwhelming for the price. We left the home discussing some of the pros and many of the cons about it. We weren't really inspired to make an offer because although it was a new home, it didn't seem to have a value equal to the price. One day my wife saw a different new construction home online that was way over what we thought our budget was. She loved the exterior front of the home. We immediately drove over and took a look at the home. Even though the interior finishes weren't completed, the dining room and owner’s suite had coffered ceilings, a beautiful floor to ceiling stone fireplace in the two-story living room, spacious bedrooms, a large and luxurious kitchen, and four stunning bathrooms. The home was listed for $100,000 more than the previous home that didn't impress us, but this home seemed to be worth much more than the actual price. Sure enough, the price per square foot was cheaper on the high end home, than on the builder grade home. We immediately contacted the listing agent and submitted an offer just over list price. We didn't hesitate and we got the home!
53
Powered by FlippingBook