THE ART OF PRICING A HOME
If asked to arrive at a fair selling price for our homes
, most of us would be hard-pressed to do so. Why? Because there is not enough money in the world to quantify our life’s experiences, treasures and memories intrinsically tied to our home. Most people have difficulty extricating themselves from this emotional component and thus cannot objectively arrive at a viable selling price.
An agent who is actively engaged with buyers and consistently previewing active listings will have the expertise required to perform a current market analysis and accurately price your property. As a licensed professional, it is my duty to be honest and straightforward, and to not refrain from giving you the straight dope, i.e., the plain, unvarnished truth which might be difficult to hear:
- Your goal in this market is a 30-day sale;
- Time on the market is not a seller's friend;
- Broad market exposure and reach to as many prospective buyers and agents as possible is key;
- Your property must be priced right from the beginning to prevent it from languishing on the market and receiving sub-par offers;
- Marketing an overpriced listing would be doing a huge disservice to you and would be violating my duty to you;
- Should a buyer (foolishly) elect to purchase an overpriced listing, the lender would most likely deny the loan due to a low appraisal value on the property.
An overpriced property will turn-off Realtors and buyers, who will likely never show-up to preview it. If you don’t really need to sell, don’t. If your expectations are set above what the market will bear, forgo listing your home until market conditions improve and there is enough appreciation to meet your needs.
Purchasing residential real estate
an emotional process, but the accurate pricing of it is
based upon data and logic
, combined with a mix of intangibles for which no algorithm can account. It is the market that drives the sale, not your emotions.
For a complimentary market analysis on your property, please contact me to schedule a time to meet. It would be my privilege to assist you.