Pricing and Marketing Value
The truth up-front!
FACT: Buyers determine the market value of your home, not you and I! The time to tell you this is right now, not after your home has been on the market for months and you have finally received a ridiculously low offer. Some things that do not determine your market value are: 1) what you paid for the house, 2) the amount of cash you need from the sale, 3) what you think it is worth, 4) what an appraiser says it is worth, 5) what you paid down when you bought the property, 6) what the tax assessor says it is worth, or 7) what your neighbor says it is worth. Today, in our market, virtually all buyers are highly informed and they are represented by an Exclusive Buyer Agent because that representation is free to them. It is the responsibility of that buyer agent to negotiate the best price and terms for the buyer. To keep the buyer from over-paying, the buyer agent will, or should, prepare a market analysis on any home that the buyer decides to purchase. That analysis will compare your home to similar homes in the area based on sales in the last 6 months. If your home is overpriced, they will know it, and their offer will reflect it! In fact, many buyer agents will suggest an even lower price on homes that are overpriced! As your exclusive agent, I will provide you with a comprehensive, clear, sensible market analysis that will allow us to anticipate the market value of your home based on analysis of buyer behavior. We'll do this now, eliminating "low-ball" offers! It's not very complicated. It's kind of like detective work, and we'll make this a team effort! Remember: buyers determine market value, not you and I. Now, isn't it nice to know that up front so there are no surprises later on? I think so, too.
Note: Many Realtorsâ or agents will come by, tell you what you want to hear regarding the sales price, list your home and then come back 30 - 45 days later and request you to lower the price. This is called "Buying the Listing", they tell you what you want to hear to get the listing and then worry about selling it later!
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