In pricing homes, many people make a few cardinal errors. Naturally, this is your home that’s concerned and it is easy to inflate the asking price based on your emotional attachment to the home.
This is where your Realtor comes into play. The agent has at their disposal, a tool known as the CMA or competitive market analysis. A CMA is essential when trying to properly price a home. The CMA compares similar homes in your area that have sold within the past few months. It takes into account many different aspects of the home including size, location, rooms, amenities and closing price. This information allows the agent to competently evaluate the proper asking price for your home. Keep in mind that an agent that values your home too high or too low might not be taking your home as seriously as they should be. Pricing your home too high will alienate possible buyers and cause your home to sit on the market for too long. Pricing it too low will ensure that you do not see an appropriate profit from the sale.
If you want to find the best asking price for your home, have it evaluated by more than one Realtor. This will provide you with some excellent information that can assist in guiding you to the proper price. With a properly set price you can relax…….and get the home ready to sell! This process is hardly relaxing and involves a bit of work, but the results can be impressive and rewarding. Many times has a house sold for more than the asking price due to proper researching and good home presentation. When this happens it can be one of life’s most exiting moments, however it can be heartbreaking to see your home languish unsold on the market. The proper price is one of the most important aspects of the home sale. If priced correctly, there should never be a need for a price reduction.