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Seller Pricing Strategies - Stand out From The Competition
When you’re selling your home, the price you set is a critical factor in the net return you’ll receive. Very few people have the imagination to visualize beyond what they see. Price and condition are irrevocably intertwined. The assessment of your home will be based on several factors including: - Market conditions - where the market is now and where it's going.
- Condition of your home - your home must outshine the competition.
- Repairs or improvements
- Time frame
In real estate terms, market value is the highest price in terms of money, that the property will bring to a willing seller if exposed for sale on the open market; allowing a reasonable time to find a willing buyer, buying with the knowledge of all the uses of which it is adapted and for which it can be legally used, and with neither buyer or seller acting under necessity, compulsion nor peculiar and special circumstances. If the price of your home is too high, several things could happen: - Limits buyers. Potential buyers may not view your home, because it would be out of their buying range.
- Limits showings. Other salespeople may be less reluctant to show your home.
- Used as leverage. Other realtors may use this home to sell against homes that are better priced.
- Extended stay on the market. When a home is on the market too long, it may be perceived as defective. Buyers may wonder, “what’s wrong,” or “why hasn’t this sold?”
- Lower price. An overpriced home, still on the market beyond the average selling time, could lead to a lower selling price. To sell it, you will have to reduce the price, sometimes, several times. In the end, you’ll probably get less than if it had been priced strategically from day one.
- Wasted time and energy. A bank appraisal is most often required to finance a home.
The current state of the market is the determining factor for pricing. As your Realtor®, I don't make the market, I simply show you how to get your home sold in the market.
Please note, your trust is of the utmost importance to me. The information you provide is given in the strictest of confidence and will not be shared, traded, rented, sold or otherwise revealed to any other persons.
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