This is the number one factor in the sale of your home. Our sales and marketing program provides exposure to a large segment of potential buyers. The actual market value is then determined by what a buyer is willing to pay.
This represents all the potential buyers in the market for a given home. As the asking price increases toward the peak of the triangle, the number of potential buyers who are willing to pay a premium price for the home declines, until the buying public perceives that the price is so high that no prospects are attracted at all.
Ideally, you should price your home in the range of actual fair market value. Setting a fair asking price helps you obtain the maximum selling price for your home.
Many sellers think that an overpriced property simply can be reduced if it doesn't sell. The danger with this approach is that by the time the property is finally reduced to its market value, it may have been on the market so long that buyers perceive it to be a tainted property. Buyers then question how long the home has been on the market and why it hasn't sold. Their offer to purchase, based on that knowledge, may be below its actual value. As real estate professionals, we use market research to arrive at an initial price that is both realistic and fair to you as the seller, but also attractive to buyers. This pricing process takes in to account a number of key factors, which include the property location and condition, and the market history and current activity.
Sales agents are constantly on the alert for new properties to show to their active, qualified buyers. As a result, the majority of showings by sales agents on a new listing occur when the house is first placed on the market.
Once this group of agents and buyers has seen the property, showing activity decreases to only those buyers new to the market. Therefore, it is important to position your home at the best price during the first market exposure.
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