Understanding the market The first step in determining the right price is so important. Although you and I set the price, the offer negotiations will determine the value. Buyers will compare your home and your asking price to similar homes in the marketplace. If your price doesn’t meet the market, buyers will often move on to the next listing. We will analyze details on recent home sales similar to yours, as well as the asking prices of homes currently on the market. This analysis will help us determine the best price for your home, a fair market evaluation. Pricing a home above market value can cause the property to sit on the market for long periods of time, which isn’t a beneficial scenario for anyone. Buyers will ask “why is the property still on the market?” And you will ask “why hasn't my house sold?” Even if a property does receive offers after it’s been priced above true market, it may not appraise, which means the buyers might not be able to secure a mortgage. It’s a situation we’ll seek to avoid because over pricing often ends in a home selling for below market value!
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