• The “underpricing generates interest” approach. Underpricing at $575,000 will motivate buyers and perhaps create a bidding war. But the goal of selling the home for more money is derailed. This approach is very successful in a seller's market with low inventory and high demand. I recently saw a house sold 19% over asking price! The Comparative Market Analysis When it comes to finding the best price for your home it's crucial to start with the Comparative Market Analysis. appraised. It gives you an idea about a good listing price. Depending on the market situation - seller's or buyer's market - the demand and the unique features of your house you should be able to price your house adequately. If you are showing a well-priced home, you'll get high activity within the first few days on the market. Ask for a detailed feedback from visiting agents and clients to see if you need to adjust the price or if you can expect offers quickly coming in. Perceived Value If the perceived value of your home is greater than the actual price, the more willing buyers are to buy. The urgency to buy disappears, the closer the price and perceived value are. The marketing of your home should match the buyer’s specific needs and desires. A real estate agent most likely knows the buyer’s hot buttons and can help to tailor the marketing activities accordingly. Selling By Showing Off Before the internet, cell phones, and social media, buyers depended on the local Multiple Listing Service (MLS) book filled with tiny, grainy images of homes. The photo was insignificant compared to the information provided below it. Today, the reverse is true. Photographs have become the most
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