The Difference between the ASKING PRICE & the SELLING PRICE

By
Real Estate Agent with Oceanica Realty 3100213

The price is the first thing buyers notice about your property. If you set your price too high, then the chance of alienating buyers is higher. You want your house to be taken seriously, and the asking price reflects how serious you are about selling your home.

Several factors will contribute to your final decision. First, you should compare your house to others that are in the market. If you use an agent, he/she will provide you with a CMA (Comparative Market Analysis). The CMA will reflect the following:

  • houses in your price range and area that were sold within the last half-year
  • asking and selling prices of houses
  • current inventory of houses on the market
  • features of each house on the market

From the CMA, you will learn the difference between the asking price and selling price for all homes sold, the condition of the market, and other houses comparable to yours.

Also, try to find out what types of houses are selling and see if it applies to your area. Buyers follow trends, and these trends can help you set your price.

Always be realistic. Understand and set your price to reflect the current market situation.

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Topic:
ActiveRain Community
Location:
Florida Broward County
Groups:
Florida Real Estate Investors
Tags:
pricing
asking price
selling price

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Rainer
260,624
Steven Campbell
Forest Hill Real Estate Inc., Brokerage - Toronto, ON
REALTOR

Those are some very good points, If you are priced to high, you could be bringing in buyers who are expecting more home for the money, and will be disappointed with the property or eliminate buyers by being priced just above their price range when the home actually should be priced within their range.

Jul 15, 2013 02:38 PM #1
Rainmaker
905,247
Rob Arnold
Sand Dollar Realty Group, Inc. - Altamonte Springs, FL
Metro Orlando Full Service - Investor Friendly & F

Sellers often do not realize that just because they have a bunch of expensive upgrades they cannot ask an extra $50K for their house over what others in the neighborhood are selling for.  Even if a buyer appreciates the upgrades, an appraiser will not.

Jul 16, 2013 11:48 PM #2
Rainmaker
905,247
Rob Arnold
Sand Dollar Realty Group, Inc. - Altamonte Springs, FL
Metro Orlando Full Service - Investor Friendly & F

Florida flag  Featured Article - Florida Real Estate Investors group

Jul 16, 2013 11:52 PM #3
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Rainmaker
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Kamal Salim

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