shoppers will lump the home with like-priced homes, knowing they can buy any time for $295,000. • The “underpricing generates interest” approach. Underpricing at $280,000 will motivate buyers and perhaps create a bidding war. But the goal of selling the home for more money is derailed.
THE COMPARATIVE MARKET ANALYSIS
When it comes to finding a buyer, pricing your home based off comparable real-priced sales is crucial to making the sale. The comparative market analysis 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. 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, so that marketing and presentation can be tailored accordingly. PERCEIVED VALUE
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