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STRATEGICALLYPRICING
YOURHOME
Strategically pricing your home to get topmarket value
Determining the best asking price for a home is one of the
most challenging and also important aspects of selling it.
In fact, it is a balancing act. You do not
want to set a price that is so high that
it discourages showings and serious
offers from the very qualified, motivated
buyers who would ultimately determine
your property’s top market value. On
the other hand, you do not want to set
a price that is so low that it attracts lots
of interest, but sets the stage for offers
and negotiations that could result in
your getting less than the market would
actually support if you were a little more
aggressive.
Moreover, this balancing act is even
trickier now, given that we are in a buy-
ers’market that is fraught with a variety
of economic uncertainties. More reason
why, when you make your decision to
sell, you should do plenty of research as
well as seek out the advice with experi-
enced Realtors and financial profession-
als.
Sowhat is Your Home Re-
allyWorth?
In a perfect world, your home’s value
would be everything you think and
need it to be. Perhaps you have specific
financial goals or you have just made an
offer on another home that is depen-
dent on selling your home at a certain
price in a given period. However, simply
put, your home’s value is not deter-
mined by you, but by what the market is
willing to pay for it at a given time.
These days, the market increasingly
includes homebuyers who have re-
searched property values over the inter-
net for months, have already viewed at
least 10 homes, and are not under any
pressure to buy.
Indeed, they may be quite hesitant in
hopes of missing one of those unbeliev-
able deals that continue to pop up.
In trying to determine your home’s
true market value and, as such, set
your expectations for what you’re
likely to sell it for, you should:
•
Try to be impartial. Unfortunately,
the market is not interested in what
you originally paid for your home,
or how much you need to sell it for
to buy your next home and meet
your financial goals. In addition,
your home may have features that
you highly value, but which might
actually reduce its market value by
limiting the number of potential
buyers.
•
Remember why you are selling.
Do you want to sell or do you need
to sell? While in a buyers’market,
you will seldom get more money
than is required to meet your finan-
cial needs. Unfortunately, your per-
sonal situation may dictate that you
take less money than the market
would otherwise be willing to give
you if you had more time.
•
Research online and in person.
You can find out a lot about your
local market through research at
websites like www.vivareal.com.br
and www.hansenimoveis.com, the
premier online destination for real
estate information.
•