Determine the correct asking price

Dated: March 1 2016

Views: 12

The correct asking price affects your bottom line When you are selling your home, the price you set is a critical factor in the return you will receive. That's why you need a professional evaluation from an experienced realtor. This person can provide you the price with an honest assessment of your home, based on several factors including:

  • Market conditions
  • Condition of your home
  • Repairs or improvements
  • Time frame
  • In real estate terms, market value is the price at which a particular house, in its current condition, will sell within 30 to 90 days. For more info, please visit the Homepage.

Value of correct asking price:

If the price of your home is too high, several things could happen:

  • Limits buyers due to the correct asking price. Potential buyers may not view your home, because it would be out of their buying range.
  • Limits showings. Other salespeople may be less reluctant to view your home.
  • Used as leverage. Other realtors may use this home to sell against homes that are better priced.
  • Extended stay on the market. When a home is on the market too long, it may be perceived as defective. Buyers may wonder, what's wrong, and why hasn't this sold?
  • The correct asking price. An overpriced home, still on the market beyond the average selling time, could lead to a lower selling price. To sell it, you will have to reduce the price, sometimes, several times. In the end, you will probably get the correct asking price less than if it had been properly priced at the start.
  • Wasted time and energy. A bank appraisal is most often required to finance a home.
  • REALTOR®s have known it for years; Well-kept homes, properly priced in the beginning always get you the fast sale for the best price! And that's why you need a professional to assist you with the correct asking price in the selling of your home.
Blog author image

Roger Flowers

Roger Flowers is a professional real estate agent with eXp Realty and has been a licensed agent since 2001. He believes a Realtor is in the service industry, not high-pressure sales. As a Realtor, he ....

Latest Blog Posts

How to handle a bidding war

A bidding war occurs when a home seller gets multiple offers. Since bidding wars are fairly common these days, it pays to plan ahead. You'll reduce surprises and stress, and be better prepared to

Read More

The Aesthetics of Aging In Place

If you or someone you know plans to age in place, then adding safety and convenience features to your house now can make it easier to stay longer. Homeowners often worry that incorporating those

Read More

You Don’t Need 20 Percent Down to Buy Your Next Home. Here’s why.

A down payment is simply the amount of cash you are putting towards the purchase of your home. For a $200,000 home, 20 percent down would be $40,000. No small amount.Despite what you may have heard,

Read More

How do credit scores work

There are several reasons why you would want to check your credit score. You might be looking to buy a car and want to know what your options are when it comes to financing. You might be thinking of

Read More