$100,000, but the market will tell you. That’s where comparable sales (or comps) come in handy.
Let’s take a look at some pricing approaches: 1. The “Leave Room for Negotiation” Approach:
You stretch your price to a "generous" $305,000, hoping that buyers will see it and think, “Wow, a little negotiation and we can snag this for a steal!” Spoiler alert: the price will scare buyers off and your house might sit on the market for ages. It's like advertising a discount and then not actually giving the discount. 2. The “Price It According to Worth” Approach: Here, you set a reasonable price right around $350,000—the sweet spot. This is where your home is most likely to sell, because it matches what buyers are expecting for similar properties. People are willing to pull the trigger, and hey, the house just feels fair. 3. The “Underpricing Generates Interest” Approach: In this strategy, you price the home at $340,000, hoping for a bidding war. Sure, it could lead to multiple offers, but at the end of the day, your dream of getting more money for the home might be derailed . While it’s tempting to stir up interest with a low price, this might backfire. Sometimes, starting too low makes buyers think there’s something wrong with the place. So, what’s the secret sauce? Well, it’s all about pricing strategically. And one of the best ways to figure out that price? A Comparative Market Analysis (CMA) from your friendly, local real estate agent. A CMA will show you exactly how much similar homes in your neighborhood have sold for, and give you the data you need to find that perfect price that attracts the right buyer. Selling by Showing Off: How to Market Your Home Once you’ve got that price locked down, it’s time to show your house off to the world. This is where the magic happens. Think of marketing as your home’s first date—you want it to look good, impress the right people, and leave them wanting more. Here's how to do it.
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