The Five "Fatal Mistakes" Most Sellers Make When Pricing Their Home.
1. Sellers often price their home based on "need" rather than the market.
2. Sellers use the wrong properties for comparison when pricing.
3. Sellers build in a "negotiating cushion" and then have no one with which to negotiate.
4. Sellers take advice from well meaning but uninformed parties.
5. Sellers allow positive emotions about their property to influence their pricing decisions.
Who Controls the Marketplace?
|Property Asking Price||Seller|
Six Factors that Determine "If and When" a Property Will Sell
What are the Risks of Over Pricing your Home?
Takes Longer to Sell
Move in and Up-to-Date
Need?s work or Dated
3. Cost / Price
Lower than Competition
Higher than Competition
Best schools, taxes, neighborhood
Less desirable schools, taxes, neighborhood
Aggressive and focused
Yard sign and newspaper ad
Qualified Buyer + Low Interest Rate
High Interest Rates
Price reductions send the wrong messages.
Reprinted by permission of John Hamilton