The real estate market is very price sensitive. Buyers are astute. If your price is just 10% too high, your property may sit while competitive properties are getting sold. There is a flaw in thinking that buyers can always “make us an offer.” Chances are serious buyers will simply place their offer on another property that seems to be the better buy. You may unwittingly contribute to the sale of another home!

Conversely, if your price is just 10% too low, that is obviously not in your best interests. While you may receive multiple offers, will you get full market value?

We offer a word of caution about someone who comes to see your property and provides a price “off the top of the head.” He/she may be right or may be wrong. How do you get the listing price that’s “just right”? Hard work, that’s how. Get a written Competitive Market Analysis. Listen carefully to all that the agent has to say. Has the agent actually seen the properties he/she is using for comparisons? Does the recommended price make sense? Question any unclear information.

Another caution is offered about the practice of “highballing.” This term refers to agents offering a high price to entice that seller to sign a listing agreement. Later the agent expects a price reduction because the home is not selling. It is far better to price a home correctly from the beginning.

If you would like to obtain an estimate a written CMA, feel free to click the link: Comparative_Market_Analysis@stamfordridges.com .