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Five Mistakes Homeowners Make When Pricing Their Home For Sale
How Did You Arrive At That Asking Price Mr. or Ms. Seller?
Sometimes homesellers have misconceptions about how to price their home for sale and sometimes a Realtor will agree to a price in order to get the listing and hope that when the homeowner sees it's not selling, they'll agree to price reductions.
Other Real estate agents build price reductions into the time line, and some will just say: "Let's not waste your time or mine unless you're prepared to list it at my recommended price."
A good Real Estate Agent will explain why they recommend a price.
Here are 5 Mistakes Homeowners make when pricing their home for sale:
1. It appraised for $XXX,000 two years ago...
Your property price should be set by comparable homes that sold recently or are in contract now. Not what it appraised for more than 6 months ago. That's ancient history in real estate.
2. The house down the street sold for $XXX,000.
If the house down the street, or next door was very similar in yours to bedroom/bathroom count, square footage, age and upgrades, then that is probably a good comparable home, and your Realtor will look at other sales to ... more
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