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The Right Selling Price Affects Your Bottom Line
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When you’re selling your home, the price you set is a critical factor in the return you’ll receive. That’s why you need a professional evaluation from an experienced Realtor®. This person can provide you with an honest assessment of your home, based on several factors, including:
- Market conditions
- Condition of your home
- Repairs or improvements
- Selling time frame
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In real estate terms, market value is the price at which a particular house, in its
current condition, should sell within 30 to 90 days.
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If the price of your home is too high, this could cause several things:
- Limits buyers. Potential buyers may not view your home because it appears
to be out of their buying range. - Limits showings. Other salespeople may be more reluctant to view your
home. - Used as leverage. Other Realtors® may use this home to drive the sale of
other 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 properly priced in the first place. - Wasted time and energy. A bank appraisal is most often required to finance
a home.
Realtors® have known it for years – well-kept homes that are properly priced in the beginning always get you the fastest sale for the best price! And that’s why you need a professional to assist you in the selling of your home.
Often, in a seller’s market, homes that are priced slightly below market value initially will sell for more, simply because of the extra interest they incite. This can be a risk, however, and when it comes to such a decision, an experienced, trusted Realtor® is your best ally.
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