Finding the Right Price

In determining the asking price for your property, there are several important considerations. In most cases, the higher the asking price, the longer it takes to sell. Hence, its important to price it right. Overpriced properties are not as competitive as those that are well-priced. Why not, you ask?

  Most Realtors wont show them.

  They are often shown only to help bring offers on other well-priced properties.

  Prospective buyers wont view them because theyre beyond their price point.

  Even if they like them, prospective buyers wont place offers on these properties because they dont want to insult the owners.

In working with you to determine the best selling price for your property, the following factors need to be considered:

v  Buyers

  Buyers dictate the best price available for your property.

  Most buyers engage in comparison shopping in print advertising and on the internet and are very well informed before they contact a realtor.

  A buyer will not pay more for one property than s/he would have to pay for another similar property.

  Its our job to know what buyers are buying and how much are they paying in our area today?

v  Comparative Market Analysis (CMA)

  A CMA shows what buyers are willing to pay in todays market.

  It demonstrates what buyers have actually paid recently for similar properties.

  It shows what buyers have not been willing to pay under current market conditions.

  A CMA focuses on other properties which are now competing for your buyers attention.

When we know what buyers are buying and what theyre paying, were able to help you set a price point which will sell your property within a reasonable timeframe and for the best possible price.

Its important to be clear about which factors do and do not affect your home and propertys value. We must consider the following:

v  Factors that Do Not Affect your property's value

  What you paid when you bought (or built) your house

  The cash proceeds you want or need from the sale.

  What we, or other real estate professional say your property is worth.

v  Factors that Do Affect the marketability of your property

  Beyond your control

  Fixed physical features of the property

  Market conditions in and beyond our community

  The competition other listings

  Within your control

  Listing price and terms offered

  Condition of your property - inside and out

  Marketing and promotional strategy (including public exposure and ease of showing).

Consideration of these key factors will provide a solid foundation for the realistic pricing of your property. All of these factors must be considered in planning the successful sale of your property.

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