is often limited by their financing options.
EXAMPLE: A HOME PRICED STRATEGICALLY
A seller estimates his home is worth between $1,250,000 and $1,275,000. With multiple homes on the market, how should he set his asking price? Overpricing at $1,280,000 will make comparable homes seem like a better deal and may not sell. Pricing at market value at $1,260,000 ensures the home is aligned with similar listings and attracts buyers. Underpricing at $1,235,000 may spark a bidding war but could also result in the home selling for less than it’s worth. Setting the right price requires a Comparative Market Analysis (CMA). This tool helps sellers price competitively while avoiding overpricing or undervaluing their home. If priced correctly, homes should begin receiving showings within days and offers within weeks.
REMEMBER THIS
If buyers perceive your home’s value as greater than the price, they are more likely to make an offer quickly. As the price and perceived value become equal, urgency decreases.
SELLING BY SHOWING OFF
Before the rise of the internet and social media, home buyers relied on MLS books with small, grainy photos. Today, 98% of homebuyers start their search online.
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