sitting on the market. If a high price keeps your home from selling quickly, buyers might shy away or counter with lowball offers. Assuming that the market will turn in your favor might prove unreliable. If prices in your area end up declining instead of rising, you could be forced to reduce the price drastically to catch up to the falling market. By pricing your home based on current market values, you can sell your home more quickly and for more money.
PRICE DROPPING
Here’s a mistake closely related to setting your initial price too high. If your home doesn’t sell after a few months, you might be tempted to make precipitous price cuts compared with similar homes in your area. Buyers will likely sense desperation, the way sharks sense blood in the water. Price competitively from the start. Don’t hesitate to reevaluate your local market. Work with your real estate agent to determine the fair market value of your home.
SUBJECTIVE PRICING
You have enjoyed living in your home for years; however, you’ve decided to move on. 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
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