Time
Chances are high that your home will sell at its fair market value. Pricing it realistically at the outset increases the likelihood of a timely sale with less inconvenience and a greater monetary return to you.
Competition
Buyers have become very savvy and have educated themselves by viewing many homes both online and in person. They know what a fair market value price is. If your home is not competitive in value with those they have seen, it will not sell. Buyers typically look at homes within a $10,000 price range. If your home is not within the correct range, it is very likely buyers will disregard your home and move on to others.
Reputation of Your Home
Overpricing causes most homes to remain on the market too long. Buyers, aware of a long exposure period, are often hesitant to make an offer because they fear something is wrong with the house. Often homes that are on the market for a long period of time eventually sell for far less than their fair market value.
Inconvenience
If overpricing keeps your home from selling promptly, you may end with two mortgages – one for the home you’ve already purchased and the one you are trying to sell. This can prove costly and worrisome, as well as inconvenient.
Eighty percent of the marketing of your home is done at the time we decide what the list price will be for your home. If you are unwilling to list your home at or just below the current market value, you are better served by not putting your home on the market at all.
Your home’s location and setting also influence its value. A home inside a quiet subdivision sells for more than the identical home on a busy street. Remote areas typically sell for less than close-in areas, views, streams, and trees usually enhance the value.
Determining the Price on Your Home
There are three factors to consider when selling your home and they are all related:
Location, condition, and Price
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