Friday, October 8, 2010

How Important Is Pricing?

How Important is Pricing Your Home in Today’s Market?

People ask me all the time how to sell their home in today’s real estate market. The answer is to simply price your property slightly lower than what the current homes in your neighborhood are listed for.

It is important that you examine current sales in your neighborhood and compare your homes to those that SOLD. Then price your home according to the SOLD price. Homes that sold in your neighborhood are the success stories. They show current real estate market trend.

When pricing your home it is important to price your home in 10K increments. Both Buyers and Agents search the Internet in whole numbers. By pricing your home in 10K increments you will reach two ranges of buyers.

For example: $200,000 is a better price than $199,900
You will reach buyers searching between 190-200K and 200-210K (missing these buyers by $100 if listed for $199,900).

When adjusting your price always adjust by 10K increments to bring in the next buyer’s range.
Pricing your home correctly at the time of listing will save you days on market.

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