Drawbacks of overpricing your home

    REDUCES ACTIVITY: Agents won’t show the property if they feel it is priced too high.

    LOWER ADVERTISING RESPONSE: Buyer excitement will be with other properties that offer better value.

    LOSS OF INTERESTED BUYERS: The property will seem inferior in amenities to other properties in the same price range that are correctly priced.

    ATTRACTS THE WRONG PROSPECTS: Serious buyers will feel that they should be getting more for their money.

    HELPS THE COMPETITION: The high price makes the others look like a good deal.

    ELIMINATES OFFERS: Since a fair priced offer will be lower than asking price and may insult the seller, many buyers will just move on to another property.

    CAUSES APPRAISAL PROBLEMS: Appraisers must base their value on what comparable properties have sold for.

    LOWER NET PROCEEDS: Most of the time an overpriced property will eventually end up selling for less than if it had been properly priced to begin with, not to mention the extra carrying costs.

    PRICING GUIDELINES

    ü What you paid for your property does not affect its value.

    ü The amount of money you need to get out of the sale of your property does not affect its value.

    ü What you think it should be worth has no effect on value.

    ü What another real estate agent says your property is worth does not affect its value.

    ü An appraisal does not always indicate what your property is worth on the open market.

    The value of your property is determined by what a ready willing and able buyer will pay for it in the open market, which will be based upon the value of other recent closed sales.

    PRICE is the #1 most important factor

    in the sale of your home.

    ü The consequences of making the wrong decision are painful. If you price your home too low, you will literally give away thousands of dollars that could have been in your pocket.

    ü Price it too high, and your home will sit unsold for months, developing the reputation of a problem property (everyone will think that there is something wrong with it).

    ü Failure to understand market conditions and properly price your home can cost you thousands of dollars and cause your home not to sell… fouling up all of your plans.

    ü Setting the proper asking price for your home is the single biggest factor that will determine the success or failure of your home sale.

    Note: I Won’t Let This Happen To You! Utilizing the latest computer technology and our in depth knowledge of the market, we will analyze current market conditions in combination with your personal time requirements to identify the correct price range for your home.You can’t afford any “guesswork” in this critical step!

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