CHAPTER 11 Common Seller Mistakes
Despite the term “buyer’s market,” it is always, in some ways, a “seller’s market” because housing is a necessity. Unlike trends in fashion or technology, real estate is a lasting commodity. Your home is unique. Even if five other houses in your neighborhood share the same floor plan, your property stands apart because of the individuality you've created within it. However, your home’s value is determined by market conditions and will be based on comparable home sales during a particular season—whether winter, spring, summer, or fall. No real estate professional can completely control the sale of a home, as the market is influenced by numerous factors beyond speculation. However, by understanding pricing strategies and buyer psychology, you can maximize your home’s value and position it to sell efficiently.
PRICING YOUR HOME STRATEGICALLY
Whether purchasing real estate or a bag of oranges, buyers are driven by perceived value. However, perceived value and market value are not the same.
To price your home correctly, keep in mind:
Sentimentality has no dollar value. While your home may hold deep personal significance, buyers are not emotionally attached to it. Avoid overpricing due to emotional attachment. Buyers will 67
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