Pricing Your Home To Sell

When pricing your home, you may consider the price you originally paid, add a substantial markup and presume you’re done. This would be a grave mistake; one that could wind up costing you thousands or end in no sale at all. In order to price your home to sell there are many things that should be considered:

Obtain A CMA (Comparative Market Analysis):
When interviewing agents, you should obtain CMA’s from each agent offering an idea of the price your home should sell. A CMA details the prices of similar homes recently sold, on-the-market homes as well as homes that simply did not sell in your area.

Be wary of agents attempting to “buy” your listing. An agent practicing this technique will often sweet-talk you with their elevated price recommendation waiting only a few weeks to insist on a price reduction. Be mindful: a home on the market for extended periods become less saleable. People begin to wonder if there are significant defects with the property or whether the seller is truly motivated.
(more…)