the bank is willing to finance has limits. Strategic pricing is your greatest tool when selling your home.
PRICING EXAMPLE
A homeowner decides to place his home on the market and must decide on an asking price. By rough estimate, the home’s market value falls between $290,000 and $300,000. Many homes are on the market. These are some pricing considerations and approaches to finding that “right price”: • The “leave room for negotiation” approach. In this approach, the market value is “stretched,” say to $310,000. This is what I also call the the "throw up a prayer and hope for the best" approach where we price it high as possible hoping for that one unlikely buyer to come across your home and be willing to pay above market value. • This will not entice a buyer and will make other comparable homes for sale in the area more desirable. Your home will most likely not sell quickly or at that price. • The “price it according to “worth” approach. This approach sets the price right at market value, depending on your specific home, it could be anywhere between $290,000-$300,000. I always recommend using whole round numbers, which makes your home easier to find in online searches. The majority of buyers today (89%) begin their home search online.
61
Powered by FlippingBook