shoppers will lump the home with like-priced homes, knowing they can buy anytime for $295,000. This is the most popular and recommended approach where you can never go wrong and will always leave room to negotiate up. • The “list below market value and underpricing generates interest” approach. In this approach, underpricing slightly below market value at $280,000 will motivate and create a frenzy amongst buyers, and perhaps create a bidding war that will give you leverage to negotiate multiple offers back up to market value or even higher. This is a great approach but also depends on the market you are in and can also run the risk of derailing your chances of selling the home for more money if you do not know what you are doing.
THE COMPARATIVE MARKE TIVE MARKET ANALYSIS
When it comes to finding a buyer, pricing your home based off of comparable, real-priced sales is crucial to making the sale. 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 get explanations. 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 or appraising for lower, as agents have access to the same exact data that an appraiser would use. If you have a well-priced home, you should be showing within the first few days on the market. Offers should come within weeks.
PERCEIVED VALUE
If the perceived value of your home by a potential buyer is greater 50
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