Upcoming chapters answer these questions to help you sell your home for the best possible price. THE PRICE IS RIGHT A buyer of real estate is n o diff erent from a buyer of a painting or a bag of oranges. Both sellers’ and buyers’ perception of value will always play a prominent role during the sale. Perceived value and market value are not the same. You need to know how to price your home strategically and correctly from the get-go to obtain the best price. Some homes sell within the ir fir st week on the market usually sell for 2.5 to 3.0% percentage above list price. Homes that grew stale for months an d fin ally sell, usually sell for 9 to 11% percent below the original list price. As a seller, keep one thing in mind as you determine initial listing price: sentimentality has no dollar value. Although you have emotional connections to your home, the buyer does not. Most buyers being shown many properties do not expect yours to be “the one.” You will have to work to get them to that decision. Avoid letting sentiment play a part in pricing the property. Set all emotions aside during the selling process. Buyers look for cues t o fig ure out your motivation to sell . Th is book is all about helping you to see your home through the eyes of prospective buyers, so that you can understand their motivations, anticipate their actions, and negotiate with the buyer from a position of advantage. Next, there is also no direct dollar-for-dollar correlation between upgrade investment and market price. A $50,000 kitchen renovation will not bring the market price of a $850,000 home to $900,000; don’t assume you can add that amount to your asking price and get trapped by making your home the nicest, but also priciest, home for your area.
75
Powered by FlippingBook