Pricing your home is both an art and a science. Achieving the optimal price is the result of objective research into comparable properties and a feeling about your property and the current market. The Right Price Should:Attract buyersAllow you to earn the most money possibleHelp you sell as quickly as possibleThe simple fact is, price is the number one factor that most homebuyers use to determine which homes they want to view. It's important to remember that, although the price is set by you, the value of the home is determined by the buyer. Overpricing is a common mistake that can cost you in the end. The Importance of Proper PricingFaster sale and less inconvenienceExposure to more buyersIncreased realtor responseMore advertising/sign callsAttracts higher offersMeans more money to sellerAvoids being shopwornWhat really matters is how your home compares to others currently offered for sale and recently sold in your neighborhood. Buyers will be comparing. Common Reasons for OverpricingOver improvementNeedPurchasing in higher priced areaOriginal purchase price too highLack factual dataBargaining roomMove isn't necessaryAssessed valueEmotional attachmentOpinion of family and neighborsDangers of Overpricing Most of the activity on your home will occur in the first few weeks. Pricing a home properly and then creating immediate urgency in the minds of agents and buyers is critical.Buyers who have seen most available homes in their price range are waiting for the "right house" to come on the market. That's why is a house is priced right, it will sell quickly. The buyers are there waiting for it.Don't start with a high price and the assumption that you can reduce it later. By the time you decide to lower the price, it may be too late, as interest will have already waned.A major cause for concern is appraisal problems; overpricing can lead to loan rejections and lost time. Even if your home is nicer than other homes in the same area, your house won't be picked for viewing if you set the price too high.Buyers and agents become aware of the long exposure period and often are hesitant to make an offer because they fear something is wrong with the property.Overpricing or underpricing will: Attracting the wrong buyers.Fewer potentially qualified buyers will respond.You might help sell similar homes that are priced lowerYou could lose money as a result of making extra mortgage payments while incurring taxes, insurance and unplanned maintenance costsThe Role of a Real Estate Agent in Pricing Provide you with a comparative market analysis (CMA), a comparison of the prices of recently sold homes that are similar in terms of location, style, and amenities. A CMA is performed by comparing previously sold homes in the area, and currently active homes to know your competition. There is no exact price for real estateThe market determines value and together we determine the priceYou determine the price based on the factors you control such as: Marketing timeFinancing alternatives providedConditionExposure methodTo help you decide on selling or buying property, I will: Keep in touch with market trends and current comparablesEstimate your net proceedsHelp to determine offering incentivesIn short: No agent has control over the market, only the marketing plan. And never select an agent based on what he or she thinks is the right price price. Select an agent based on professionalism, integrity, and willingness to always be available to help you. | 
