PRICING YOUR HOME
Pricing your home at a realistic level from the start may be the most important factor in the quick sale of your home. Often, sellers price their property based on what neighbors recently sold their homes for or through incomplete information from friends. Be aware that there are many factors that go into determining the initial asking price as well as the final sale price of a home. Here are some considerations to keep in mind while deciding on a price for your property:
* A Realtor can suggest a price range for your home based on current market comparables and a careful assessment of your home. At your request, a Realtor also may suggest a specific price, but setting the actual initial listing price is your decision. Remember though, the Realtor has knowledge of the market and experience in pricing homes within a realistic range.
* By setting a fair market price from the start, you avoid discouraging potential buyers. Even if you later adjust the price to better reflect its fair market value, prospective buyers may have moved on.
* Be cautious when estimating the value of improvements you have made to the property. Basic remodeling can appeal to prospective buyers, but luxury related improvements should be carefully assessed. What was a “must-have” for you, may be a “must-remove” for someone else.
* Flexibility in negotiating on the sale price is essential, especially in a soft market. A Realtor can advise you throughout the process.
Only a real estate professional who is a member of the National Association of Realtors and subscribes to its strict Code of Ethics is a Realtor. Call Realtor:
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