There are three critical pieces to getting your home sold successfully. I call them the 3P’s. The 3P’s are Preparation, Pricing and Presentation. The most critical component of the 3P’s is pricing. I will focus on your homes list or asking price and how buyers will react and respond to your homes asking price in relation to fair market value. 95%+ of all homes will sell for fair market value. Your homes asking price does not affect your homes fair market value! Your home will sell for what it will sell for based on location, square footage, function and appeal […]
The importance of proper home pricing when selling your home
When selling your Massachusetts home their are many variables that will allow you to get the most out of your home sale. One of the single most important aspects of selling your home is pricing it properly. Priced even 3-5% over fair market value and your home can languish on the market.
The first step in properly pricing your home is to have an agent prepare a Comparative Market Analysis and determine the fair market value of your home. Fair market value is the price the general home buying public will be willing to pay for your home, In New England properly pricing your home can be more of an art then a science do the older housing inventory and the many different ages and styles that are around you.
At the end of the day, your comparable properties show you a past history of what similar houses have sold for in your area.
When selecting an agent to sell your home it is important to find an agent that has a strong marketing plan to get your home sold. Do not just pick the agent that gives you the highest price. Pay attention to the CMA yourself and understand the comparable properties the agent used, make sure it makes sense to you and don’t be afraid to ask questions.
No amount of marketing will sell an overpriced home! Once a homes starts approach the average market time buyer’s start to wonder what is wrong with the house and why no one else has bought it.