CHAPTER 20 Landing on the Perfect Price
CASE STUDY #16
Another Realtor® had spent six months trying to sell my clients’ house. I was able to sell it in just over three months for full asking price. One day a real estate agent called Chuck out of the blue and said she had clients who were interested in buying his house for $285,000. “Great news!” thought Chuck. He’d been wanting to sell, and this would help him avoid all the usual stress that can come from selling a home. Chuck happily accepted their offer. Well, a few weeks went by, and Chuck’s neighbor, whose house was similar but a little smaller, sold his home for $321,000. That’s $36,000 more than Chuck got! How is this possible? It’s because Chuck didn’t know how much his home was worth. One easy way he could’ve avoided this was by spending $500 on a home appraisal. And $500 to get $36,000 sounds like a steal, right?
HOW TO PRICE A HOME
I recommend that all buyers find out their home’s worth. If you’re selling on your own, an appraisal is a great choice. Another option is to work with a Realtor®, whose specialty is knowing what price homes should sell for. A good Realtor® will make sure you get the money you deserve! There are several different things to consider when pricing a home. One is making sure you don’t price below market value. The only time this is okay is if you’re consciously trying to start a bidding war, but if you’re going to do that, you must have a plan in
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