Picking the right price for your home is one of the hardest things to do. For most people, picking the right starting price for their home and keeping it up to date with the market is one of the hardest tasks.
Some Reasons Why Picking the Right Price is Tough
Most sellers are emotionally involved in many aspects of their home, such as all the memories that you might have created.
Some sellers might have spent a lot of money in renovating and feel its value is higher, while other sellers feel their area in which their home is located is far superior to most others.
Until now, many sellers did not have access to important information on Sold Comparable Data. This data lets the sellers know what other houses like theirs have been selling for.
This data dictates if a home is priced to high and helps sellers know when to reduce the price of their home.
How does a value for a home become established?
Market value can be defined as "the price which a ready, willing, and able seller, not forced to sell, will accept from a ready, and willing, able buyer, not forced to buy, assuming that both parties are fully informed, act intelligently and have sufficient time to consider the transaction with due care."
The process is simple. The seller will pick a price he wants to sell his home for, when the buyer comes and looks at the home the buyer will determine if it is a good fair price by comparing it to the other houses that the buyer has seen.
If the buyer feels that there is good value in this home and they would like to live there then they would write an offer to purchase and present it to the seller. The buyer and seller would negotiate the offer and would eventually come to an acceptable agreement with terms and conditions that would be satisfactory for both parties.
If a buyer likes your home and is willing to pay top dollar for it, both the buyer and seller must be prudent in knowing the market because ultimately the bank or lending institution must confirm that the property has the correct value.
Do Real Estate Agents Set the Value for Homes?
Real estate agents give a probable guess what you could sell it for in current market conditions. They cannot predict future prices with any level of certainty, only a good guess of what the future may hold.
Determining a list price for a home is a hard task even for the experienced agent. The private seller needs to familiarize themselves with the market by doing considerable market research.
Soldplicity has provided for your purchase a PDF outlining several ways to know your market so you can easily and accurately confirm a list price for your home.
This download provides several methods describing how to pick a perfect price for your home and will also help you to know when you need to reduce the asking price of your home.
Knowing when to reduce your price is dependent on how well you know your market and being successful at selling is dependent on the amount of time you have given yourself in case the markets change on you.
This document will also help you recognize when you are running out of time, and how to utilize the services of a real estate agent while still getting top dollar for your home.
Many private sellers get frustrated and end up listing their home with an agent because of their lack of market knowledge, inability to pick the right price, and not knowing when to reduce their home. Eventually they find themselves running out of time to have the home sold.
If you want to learn how to pick the right price for your home, know the market, know when to reduce, and know how to utilize an agent's service while still getting top dollar for your home, this download is a good one.
Available at our Store: Pricing your Home Correctly $4.99
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