home-selling process. Avoid this mistake by interviewing agents and selecting the one who offers detailed sales data and a strategic listing price, not just a higher one.
SUBJECTIVE PRICING
You have enjoyed living in your home for years; however, it’s time to move on. You’re facing foreclosure. Don’t let emotional attachments to the home affect how you price it. Memorable moments spent in your home are priceless — literally, because they do nothing to add to the selling price! Selling your home is a business transaction between a qualified buyer and you. The most objective listing price will come from the CMA provided by your real estate agent, subsequently refined by negotiation with a qualified buyer. It’s also unrealistic to add dollars because of the labor spent making the house into your home; the new owner neither benefits from nor cares about your efforts. By focusing on the CMA results and maintaining a businesslike and professional attitude, you can keep emotions at bay. Don’t just move; move on.
FIRST-DAY HIGH-PRICE BLUES
The most crucial time for your home is the first 10 days on the market. Once your home is on the Multiple Listing Service (MLS), you’ll see how much interest is generated. If your price is too high, buyers will bypass you because the home is out of their price range. By the time you decide to lower the price, they will have moved on to other properties. Meanwhile, as your home sits on the market, buyers will wonder why the home hasn’t sold, concluding that it’s undesirable in some way. Price it correctly from the start to generate interest and gain attention from buyers to sell faster. Unrealistic pricing costs money in the long run.
TESTING THE MARKET WITH A HIGH PRICE
Even if you weren’t in a hurry to sell, it’s not wise to “test” the
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