PRICING YOUR HOME
Professional appraisers sum up their entire body of knowledge in three words - "Buyers Make Value."
As your real estate agent, I can give you up-to-date information on what is happening in the marketplace and the price, financing, terms, and condition of competing properties. When listing your property for sale, require your agent to be candid with you. Most agents simply don't want to tell the seller the true value of their home, if it's obvious the seller wants more than it's worth.
By allowing your agent to be completely honest with you, you'll save time and money. Consider the market analysis carefully with your agent...The numbers should make just as much sense to you as they do to your agent, the appraiser, and most importantly potential buyers.
Remember! Your home is worth as much as a buyer is willing to pay for it. Sometimes the home is simply worth more to the seller than it is to the buying public.
If the property has been on the market for more than 4-5 weeks, with few prospects coming to see it or those that have seen your home do not make a second or third visit and no offers have been submitted, you've been given a clear message that the property may not be worth what you're asking for it.
What you do at that point depends on whether you really need to sell, and whether you're working with a time limit. If you're not really motivated to move soon, you can always wait - years if necessary - and hope inflation will catch up with the price you want.
The problem is that at that time, your home begins to feel shopworn. Buyers become suspicious of a house that has been for sale for a long time. If, however, you really do need to sell, your Ocean Sotheby’s International Realty agent understands the marketplace and how to price it right. There's no point in saying, "We simply can't sell our house." It will sell when the price is right.