Page 12 - Listing Presentation

ESTABLISHING THE SELLING PRICE

FOR YOUR HOME

TWO CRITICAL GUIDELINES FOR PRICING A HOME

1. DO NOT PRICE TOO HIGH FROM THE START: Statistics show that homes
priced correctly when they first hit the market sell FASTER and CLOSER to the
ASKING PRICE than homes that start too high, then have to adjust downward.

2. DO NOT PRICE YOUR HOME BASED ON "ACTIVE" OR "PENDING"
LISTINGS: Use actual SOLDS for a true pricing guide. A home can be listed for
any amount. Home appraisers only use SOLD listings as comps.

HOW TO PRICE YOUR HOME CORRECTLY
Many homeowners want to set their list price based on what they paid for their
home, the balance of their mortgage, or on the profit they want to make so they
can move into another home. In reality, your home is worth only what the market
will bear. If you price your home too high, some potential buyers won’t want to
look at it at all, while others will simply walk away without making an offer.

AVOID AGENTS WHO WANT TO "BUY YOUR LISTING"
BY OVERPRICING YOUR HOME
If you’re interviewing several REALTORS® to choose a listing agent, you may be
tempted to pick the sales professional who suggests the highest price for your
property. But sellers, like buyers, need to beware. The REALTOR® who provides
thebest comparative market analysis and explanation of how your home should
be priced will be more likely to sell your home quicker and for a higher price than
someone who tells you only what you want to hear.

All a buyer cares about is paying the fair market value. There is nothing that will
blow up in your face quicker than an overpriced property. In fact overpricing a
home is right at the top of the list for reasons why a home does not sell.