that doesn't necessarily establish a realistic price to set your home. Because price is the art of conveying that value to potential buyers, determining an accurate price is a pivotal aspect of the marketing process. There's a psychology that goes into pricing an item and the value that is translated to the consumer, and a direct correlation to the success of the sale.
SALE PRICE VS. MARKE S. MARKET VALUE
If you have a ready-to-buy, bank-qualified buyer who is willing to pay a price you will accept, that is referred to as “sale price.” It is an objective fact without influence. Upcoming chapters answer these questions to help you sell your home for the best possible price. A buyer of real estate is no different from a buyer of a painting or a bag of oranges. Both sellers’ and buyers’ perception of value will always have a prominent role during the sale. Perceived value and market value are not the same. You need to know how to price your home strategically and correctly from the get-go to obtain the best price. A Virginia realty agency reported that homes in August 2013, within their first week on the market, sold for an average of 2.08% above list price. Homes that grew stale for months sold for an average of 11.53% below the original list price. This sale price transaction, once complete, will influence the market value of homes in the area. You determine the price of your home by looking at comparable local sales provided by a professional real estate agent, your property’s condition, and the current supply and demand.
What a piece of property might sell for based on features and
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