Buying a new car is, for most people, a major purchase. First, you compare features, design, mileage, and dependability. You identify several suitable makes and models, and then compare price. With all the features and benefits being equal, would you choose the most expensive, or look to the one offering the best value?
You wouldn’t pay more than you have to, and home buyers are no different. When selling your home, the asking price determines your success. Although you make the pricing decision, it is wise to listen to your real estate representative’s advice.
The agent knows what buyers have been willing to pay for other homes similar to yours. Your price must be competitive against those. Buyers often pay a higher price when they recognize a good value, yet rarely consider an overpriced home.
Really, it is the buyers who set the sale price. No matter what you ask, until a buyer is willing to pay your price, no sale will take place. How do you determine the right price? Look closely at each sale that your agent has researched, comparing time on the market, features, financing offered, and then the final sale price.
Your home’s ideal price can be found in the maze of statistics provided by your agent. Price your home to sell, and buyers will compete for it.