Liz May - HOW TO SELL HOMES FAST FOR TOP DOLLAR

Comparable Home A: $368,000 Comparable Home B: $349,000 Tim and Sue’s Home: $345,000 Comparable Home C: $345,000 Comparable Home D: $333,000 Comparable Home E: $329,000

Tim and Sue appear to have priced their home competitively for the market. Over the next month, the market changes.

Comparable Home A: Expired Tim and Sue’s Home: $345,000

Comparable Home B: $339,000 (Reduced Price) Comparable Home C: $335,000 (Reduced Price) Comparable Home D: Sold Comparable Home E: Pending Comparable Home F: $326,000 (New Listing) Comparable Home G: $325,000 (New Listing) Comparable Home H: $319,000 (New Listing)

Tim and Sue now have the highest-priced home in the area in their price range. When a buyer looks at the comparable home prices, it is now the worst value proposition in the marketplace. Most sellers, like Tim and Sue, do not realize the market can shift so far so quickly. It cannot be stressed enough how important it is for you to price your home right the first time. House D sold, and House E had a pending sale from the start.

WHY SHOULD THES ULD THESE STORIES MATTER TO YOU?

Do you see how crucial it is to understand the true value of your home? The moral of the story is: anyone can lose money in the real estate market. A seller who is unfamiliar with the constantly changing market risks selling their home for less than it’s worth or missing out on a sale due to incorrect pricing at listing. In many cases, sellers may not even realize it. Pricing errors occur

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