THE SELLING PROCESS: CORRECT PRICING WILL SELL YOUR PROPERTY  As your Broker, I can help you determine the correct listing price for your property.  I can provide you with a Comparative Market Analysis (CMA), which will show you the selling price of recent sales and the listing price of currently active properties that are similiar to yours.  Armed with this information and my 20+ years of experience with the real estate market, we can determine an appropriate listing price for your property.  Scroll down for more information that will help you see why correct pricing will sell your property:        5 Reasons a Property Sells        Proper Pricing        Pricing & Fair Market Value        Price & Extended Marketing   FIVE REASONS A PROPERTY SELLS 1 Location An old real estate adage says that the three most important features of a property are "Location, location, location." While this may be overstated, it is not inaccurate. The sale price of your property will depend heavily on its location. 2 Price A correct list price is generally considered to be the number one factor in the successful marketing of a property. When deciding on a price, put aside sentimental considerations and remember that a property is only really worth what someone is willing to pay for it. 3 Terms Terms make it easier for people to purchase real estate. Therefore, the more term options you can offer, the more people will be willing and able to purchase your property. The right terms can even help yield a higher selling price. 4 Condition of the Property The selling price of your property will reflect the property's upkeep, presentation, and general condition. Remember that you can never get a second chance at a first impression. Good maintenance will make a Buyer more comfortable with the decision to buy. 5 The Agent You Select Making sure everything comes together is the sign of a good REALTOR. I will work hard to bring you results. PROPER PRICING Factors that Affect Value - Number of properties available - Recent comparable sales - Current mortgage rates - The general economy Factors that Don't Affect Value - What you paid for the property - The cost to rebuild it today - Your investment in improvements   (Certain types of improvements don't   increase value) Obstacles to Proper Pricing - Incompetent agents who will accept a listing at any price - Neighbors who mislead Sellers about how much they got for their property - Loss of perspective because the Seller is emotionally involved - Seller's financial need to realize a certain amount of cash out of the sale - Fear of making a mistake Don't Get Caught Saying This: "People always offer less than asking price." "Another agent said it was worth more." "Our property is nicer than those." "We can always come down on the price." Overpricing Will: - Reduce marketing response - Lose interested Buyers - Attract the wrong prospective Buyers - Keep other agents from showing the property - Help sell the competition that is listed at a lower price - Extend the marketing time PRICING & FAIR MARKET VALUE The price you set affects the amount of interest your property is likely to attract. Most Buyers have done their homework and know what price range to expect. The chart below shows how many Buyers will likely be interested in your property according to how its listing price relates to its Fair Market Value (FMV). PRICE & EXTENDED MARKING Greatest Interest is Generated upon Listing - A property generates the most interest when it is first listed. - The amount of interest will largely depend on the asking price. - Overpriced properties will not attract as many Buyers. Interest, Activity, & Price Decline Over Time - The longer your property sits on the market, the less interest it will generate.  - Buyers will worry about why it hasn't sold, resulting in less inquiries. - Agents will become familiar with your property and will not recommend it to their clients if they believe it to be overpriced, resulting in less showing activity. - As interest and activity declines, the price will also need to decline to continue attracting new Buyers. Losing Potential Buyers If you price above market value, you will lose the potential Buyers who might have bought the property at or above the price upon which you eventually settle, thus extending your marketing time without increasing your net gain. Continue to the Home Seller's Guide for tips on preparing your house for showings, or, if you would like to talk with me about listing your property, email me to set up a meeting, or fill out my form to request a no obligation Market Evaluation.