When buyers are searching for a home, the most important thing they are looking at is the listing price of the homes they like. Your realtor and you will discuss and decide on a listing price, but in the end a potential buyers will decide what the selling price should be. When the listing price is excessive, the majority of buyers will look elsewhere – and quickly. This is why the listing price for your home needs to be determined fairly.
When a home-listing price is a fair value, the home will usually sell faster than other similar homes. You will find more prospective buyers with a properly priced home also. Other realtors will show more interest in your home if the listing price is close to accurate and your phone will ring with more showings. The home-listing price you choose is vital to your sale.
It is no surprise that overpriced homes are prevalent on the market and this occurs for numerous reasons. You want to do whatever you can to steer clear of over valuing your home since potential buyers will avoid your home in droves. This is a common problem since many realtors will be intimidated from pressing the homeowner for a reasonable listing price. Often sellers have a price in mind and they will not budge from it – as if THEY were the experts. If a home is in a great area, they may ask a premium on their home. Location is critical too many buyers but price trumps location every time.
The majority of interested buyers for your home will notice it in the first few weeks so asking the right price can generate a fast sale. Over price your home and you lose that immediate interest and your home will sit with few showings. Buyers are patient and their own realtors will direct them to properties that are better priced in your general location. Most will not wait for you to lower your price. Motivated buyers might not see your home at all if the price is too high, as they will pass it by for something more affordable and of similar style.
When figuring out the listing price of your home you should pay for a professional appraisal. Realtors can give you a valuation but having an appraisal in writing from an accredited appraiser will be an advantage during offer negotiations. Knowing what your home is worth will give you flexibility to accept reasonable offers from buyers that are below listing price. When the listing price is over value you are blocking many potential buyers that otherwise may place an acceptable offer. The real estate market is extremely competitive these days and buyers are far more knowledgeable than they once were. Understanding these two facts should motivate you to put a fair home-listing price to your property.
Know that real estate agents do not control the home sale market; they can only produce an effective marketing strategy. They have no magic wand for placing a home value on your property – this will be the seller’s prerogative. A real estate agent can provide you with direction for your hoes value but it is you that decides the home-listing price. Take into consideration all factors concerning your property and be realistic, your home will sell faster and for top dollar when you place the correct home-listing price on it.