Page 111 - Selling secrets 5 18 2023

new home, so they are continually looking for new listings,
not ones that have been sitting on the market. If a high price
keeps your home from selling quickly, buyers might shy away
or counter with low ball offers.

Assuming that the market will turn in your favor might
prove unreliable. If prices in your area end up declining
instead of rising, you could be forced to reduce the price
drastically to catch up to the falling market. By pricing your
home based on current market values, you can sell your
home more quickly and for more money.

PRICE DROPPING

Here’s a mistake closely related to setting your initial price
too high. If your home doesn’t sell after a few months, you
might be tempted to make precipitous price cuts compared
with similar homes in your area. Buyers will likely sense
desperation, the way sharks sense blood in the water. Price
competitively from the start. Don’t hesitate to reevaluate
your local market. Work with your real estate agent to
determine the fair market value of your home.

SUBJECTIVE PRICING

You have enjoyed living in your home for years; however,
you’ve decided to move on. Don’t let emotional attachments
to the home affect how you price it. Memorable moments
spent in your home are priceless—literally, because they do
nothing to add to the selling price! Selling your home is a
business transaction between a qualified buyer and you.
The most objective listing price will come from the CMA
provided by your real estate agent, subsequently refined by
negotiation with a qualified buyer.

101