Every home seller wants to make money when selling their home but every buyer does not want to pay more than its worth. So, a seller has to find the correct price. Following are some things to know:
- Price Attracts Buyers – your home must get the attention of potential homebuyers that are looking at size, amenities, conditions and price. In order for your home to come up in a buyer’s search it must be similar to the price of other homes in the area with similar size, amenities and condition. A way to find that out is to get a Comparative Market Analysis (CMA) from your real estate agent.
- What is Market Value? Market Value is the price that a buyer is ready, willing, and able to pay and a seller is willing to accept.
- How do we determine Market Value? Your agent will determine Market Value first by evaluating your home versus other homes in your area that are for sale, have contracts pending, and have recently sold through the CMA.
- What is motivating you to sell? Your agent needs to determine the best strategy for getting your home sold for the most money, in your time frame, and with the lease amount of hassle.
- A lot of sellers like to price their home high thinking they can always reduce the price. While that is true, the home can sit on the market awhile due to that. And, if a home sits on the market awhile, buyers wonder what is wrong with it and you will have less interest. The goal is to get as many potential buyers into your home. That is your best chance to get your best offer.