If you don’t price your home correctly, you take the risk of:
• Selling your home for less than it’s worth • Wasting time while your home sits on the market because it’s not priced correctly Your objective is to price your home so it sells quickly and for the highest price possible. Each of us probably has a skewed idea of the worth of our home. Either we think it is far more marvelous than it is, or we’re so tired of it that we think it is a horrendous cross to bear. Add to that your hopes and dreams of what to do with your money once you sell, and pricing your own home is a complete danger zone. This is one area in which the aid of a real estate agent comes in handy. You need to know how to price your home strategically and correctly from the get-go to obtain the best price. Homes that sell quickly and for a good price generally were priced correctly. Often, homes that sell within their first week or two of market listing go for a bit above asking price, while those unfortunate homes that grow “stale” on the market for months eventually sell, but for well below the list price.
DANGER ZONE #1: PRICING BELOW VALUE
It is possible that a home priced too low could eventually aid a seller to start a bidding war, so that the price is driven above what the sellers wanted to make in the first place. However, conditions must be ripe for this to work. Well-laid and professional plans are also crucial to this maneuver’s success.
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