When it comes to buying a home, most potential buyers will cite the listing price as the primary factor in determining the home they are looking at. While you and the real estate agent can determine the asking price, the buyer will determine the selling price. If the price is too high, most buyers won’t consider it, which is why you need to carefully determine the listing price.
If you set the right price, you will find that the sale will go much faster. Setting the right listing price will also attract more potential buyers to your property. You will also notice an increase in response from real estate agents and receive more calls about the property. The listing price is very important – it can ultimately determine whether or not your property sells.
There can be several reasons why a home is overpriced. You want to avoid overpricing because buyers tend to avoid overpriced homes. Often, this happens when buyers ask for much more than the value or appraised value of the home. Some buyers ask for much more than the value of the home due to the location. While location is very important, most potential buyers will not take a second look if they think the price is too high – and more importantly, out of their price range.
When you list your home for sale, most of the activity will happen within the first few weeks. If you price your home right, you’ll notice immediate interest. There are always buyers looking for homes in their price range, waiting for new homes to come on the market or homes to drop in price. If the price is too high, buyers waiting to buy may miss seeing your home altogether.
In order to determine the listing price of your home, you should have your home appraised before you list it. This way, you will know the full value of your home. You can sell at market value or slightly below market value, but you should not try to go far above value. By doing so, you will miss out on many potential buyers. The housing market is very competitive these days, which is why you want your home to attract as much interest as possible.
Remember, real estate agents really don’t have any control over the real estate market, only the plan behind the marketing. The realtor does not determine the asking price, but rather the seller. You can ask the realtor for advice, even though you are the one who decides the listing price. If you do things right, one step at a time, you will get the listing price in the right area and have no problem selling your property.