Mistake No. 2: Overpricing Your Home.
Ah….pricing your home right. No subject could be touchier. Although no one can place a value on the “home” you have built over the years, in order to sell, an asking price must be reached. Your homes asking price cannot be based on what you need to net financially. This usually never works, as the sales price is determined by the market, not you.
Setting your asking price too high may be the #1 mistake a seller can make. This will affect the amount of agents and buyers who will consider looking at the home and you will experience very few showings and probably no offers. In contrast, a slightly-below-market asking price significantly increases buyer activity and may even generate multiple offers!
It is the job of your Realtor to determine a fair asking price. This is done with a Comparative Market Analyses (CMA). A CMA is an evaluation of certain market indicators of sold homes, current listings, pending sales and withdrawn or expired listings. By reading indicators such as square footage, construction date, amenities, condition and location, a sales price for listing purposes can be reached.
Call us today for your CMA!