Setting The List Price

An Agent has NO control over the market, only the Marketing Plan. Never select and agent based on price.

Pricing your home is an art as well as a science. Achieving the optimal price is the result of objective research into comparable properties and the current market. The right price should:

	Attract Qualified Buyers
	Allow you to get the highest amount of money possible
	Help your property to sell as quickly as possible

The fact is, pricing is the number one factor in the home buying decision process. This determines which homes they will want to view. Also, remember, that, although price is set by the seller, the value of the home is determined by the buyer. Avoid allowing your enthusiasm to impact your better judgment - overpricing is a common mistake that can cost you in the end.

Pricing It Right

	Faster Sale and Less Inconvenience
	Exposure to More Buyers
	Increased REALTOR® Response
	More Advertising & Sign Calls
	Attract Qualified Buyers
	More Money To The Seller
	Avoids Being "Shopworn"

What really matters is how your home stacks up against the others currently offered for sale and recently sold in your market area. Buyers will compare........

Reasons for Overpricing

	Over Improvement
	Need
	Purchasing In Higher Priced Area
	Lack of Factual Information
	Original Purchase Price To High
	Bargaining Room
	Move Isn't Necessary
	Assessed Value
	Emotional Attachment
	Opinion of Family & Neighbors

Dangers of Overpricing

	Most of the activity on your home will occur in the first few weeks. Pricing a home properly and then creating an immediate urgency in the minds of agents and buyers is critical.
	Buyers who have seen most available home in their price range are waiting for the "right house" to come on the market. That is why a house that is priced right will sell quickly. The buyers are waiting for it.
	Don't start with a high price and the assumption that you can reduce it later. By the time you decide to lower the price, it may be to late, as interest has dropped.
	A major cause for concern is appraisal problems; overpricing can lead to loan rejections and lost time.
	Even if your home is nicer than other homes in the area, your house won't be picked for viewing if you set the price to high.
	Buyers and agents become aware of the long exposure period and often are hesitant to make an offer because they fear something is wrong with the property.
	Attracting the wrong buyers.
	Fewer potential qualified buyers will respond.
	You might help sell similar homes that are priced lower than yours.
	You could lose money as a result of making extra mortgage payments while incurring taxes, insurance, and unplanned maintenance costs.

Role of Real Estate Agent In Pricing

	Provide you with a "Comparative Market Analysis", a comparison of prices of recently sold home with similar terms of location, style and amenities. A CMA is performed by comparing previously sold homes in the area, and currently actives homes to know your competition. Interested in receiving a "Comparative Market Analysis" on your home? CLICK HERE
	There is no "exact price" for real estate
	I don't tell you what I think your home is "worth"
	The market determines value....together we determine the price.
	You determine the price based on the factors you control:

Marketing Time

Financing Alternatives

Provided Condition

Exposure Method

	Keep in touch with market trends and keep up to date with market activity of comparable homes.
	Estimate Your "Net Proceeds"
	Help to determine offering incentives.