A higher-range price may dissuade offers, and cutting the price later is not the best strategy. Price cuts raise more questions in buyers than they attract offers. It is in the early period of your listing you are most likely to get the fair value of the home. You must price your home strategically and correctly to obtain the best offers and ultimately, a good selling price. In Kane County, IL, December 2021, homes Under Contract within their first three weeks on the market sold for an average of 99.9% of their list price. Homes growing stale for months sold for an average of 10.53% below the original list price. A home remaining as an active listing for a lengthy period, while not selling, raises questions in buyers of why a sale did not occur and suspicions there may be something not obviously wrong with the property. To determine listing at the right price at the start of your marketing efforts, the best practice is to enlist the help and advice of a real estate professional or agent and gather inputs from recently closed home sales in the local area. A real estate agent should also be able to estimate how long the property might remain on the market at various price points. When it comes to finding a buyer, pricing your home according to right data in comparable real sales is crucial to making the sale. A real estate agent will provide a Comparative Market Analysis, which is imperative to pricing strategically. 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. Also, in the beginning, you should set your lowest acceptable offer, so sale-anxiety or emotions do not affect you during negotiations.
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