PRICING YOUR HOME
Pricing your home correctly is more important than ever in today's competitive market. A Lakes Area Realty agent will provide you with the best, current market data to effectively assist you in pricing your home to meet your selling goals.
While a Lakes Area Realty agent will provide you with the current details of the market, below is some general information on pricing your home.
Time/Activity Ratio
Pricing your property competitively from the start will generate the most activity among brokers and buyers
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A property generates the most interest among brokers and buyers when it first goes on the market.
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The number of showings is greatest during this time - if it is priced at a realistic market value.
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Starting too high and dropping the price later misses the excitement and fails to generate as much activity
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It may even become necessary to drop the price below market value to compete with new, well-priced listings.
The Effect of Over Pricing
The buying market has a short attention span. This graph illustrates the difference between the asking and selling prices as time increases. Pricing your home correctly the first time attracts enough interested buyers to get an offer before the market moves on to newer listings.
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