Pricing Your Home To Sell
Pricing your home is a complex task that requires the expertise of an experienced real estate professional. Consider the following:
- If the listing price is set outside of the proper parameters, potential buyers may be deterred from considering your home
- Arriving at the optimal price requires evaluation and understanding of current marketing conditions, the marketable features of your home and recent trends in the real estate market
- The closer your home is priced to fair market value when it first comes on the market, the more likely it will sell quickly at the highest price
- The higher your home is priced above market value, the fewer number of available buyers
Statistics have shown:
- There is a 95% chance of sale if a home is priced at market value
- There is a 50% chance of sale if priced at 5% over market value
- There is a 30% chance of sale if priced at 10% over market value
- There is a 20% chance of sale if priced at 15% over market value
It is a skill where experience and judgment are fundamental. Some of the factors that influence the list price of your home are:
- Physical Qualities
- Market Conditions
The price you paid for your home or the proceeds you want from the sale have no effect on the value of your home.
The seller can only set the asking price. The buyers will set the sale price.