with like-priced homes, knowing they can buy anytime for $960,000. • “Underpricing generates interest” — Underpricing at $935,000 will motivate buyers and perhaps create a bidding war. When it comes to finding a buyer, pricing your home according to data available in comparable, real priced sales is crucial to making the sale. Using the Comparative Market Analysis is imperative to pricing strategically. When you ask for one from a real estate professional, be sure to review the analysis, ask questions, and thoroughly understand the answers. If completed correctly, this comparison report not only gives you a great listing price but also reduces the chance of your home being under-appraised. Depending on the market, if you have appropriately priced your home, showings could start as soon as the first day it’s listed. Offers could come within a week. REMEMBER THIS If a potential buyer perceives the value of your home as greater than the actual price, s/he will be more willing to buy more quickly. The urgency to buy diminishes the closer the price and perceived value become. SELLING BY SHOWING OFF Before the internet, cellphones, and the social media craze, buyers looked for a home by perusing the local multiple listing service (MLS) book filled with tiny, mostly grainy images of homes. Photos of featured homes were larger and sometimes in colour, but most were black-and-white, amateur photos. The photo was insignificant compared to the information provided
63
Powered by FlippingBook