Pricing Your Home
Our integrity, supported by widespread market knowledge and experience, will help you price your home as competitively as possible.
The Right Price.
The closer you price your home to fair market value, the more likely it is to sell quickly, and at the optimum price.
ForHomes.me’s professional real estate agents will help you evaluate your home’s most marketable features in relation to current real estate market trends in surrounding areas and your specific neighborhood. Then, they’ll assist you in deciding on a reasonable, realistic, and competitive asking price. Our ultimate goal is to gain attention and exposure, so that you’ll receive an acceptable offer as quickly as possible.
The length of time your property is on the market may affect the selling price you receive. Pricing your home competitively from the start will create more activity among buyers and brokers, and will decrease the time it takes to be purchased.
If your home is priced competitively…
You’ll receive acceptable offers quickly. But pricing your property higher than comparable listings may actually help sell your neighbor’s home faster than yours. Here are some questions to consider.
Statistics clearly prove that the narrower the gap between your agent’s estimate of value and your asking price, the sooner you’ll receive an offer.
Your agent has access to important details about current listings and recently sold properties through the Multiple Listing Service (MLS). You can use this information to evaluate the competition you’re up against and analyze the effect of market conditions in your area. Then you can determine your price by comparing your home to ones similar in age, size, condition and location.
The cost of your next home, your need to pay off an existing mortgage, or your hope for a dollar-for-dollar return on home improvements won’t affect a potential buyer’s perception about the value of your home.
Buyers will assess your property through comparisons with other homes in similar condition with comparable features and amenities. Potential buyers are the true appraisers – and it’s their evaluation that matters.
Unfortunately, emotion and pride of ownership have no place in the pricing process. Sellers speak of value, amount invested, and what they can afford “to take.” However, buyers focus on price, condition, and similar properties that are currently available.
You greatly enhance the chances for a quick sale at or near your asking price when it can be substantiated by comparable sales data. You want to be sure that statistics and local brokers can justify your price. Don’t risk having agents neglect to promote your property to potentially qualified buyers simply because it’s out of their price range. Keep in mind that if you do receive an offer at an unreasonably high price, it will be tested during the appraisal and lending process.
Early offers can be your most realistic test of the current market. They often come from serious buyer/agent teams who have been searching the market for a long time and know it well.
Taking Longer to Sell
- Houses priced above fair market value take longer to sell.
- Pricing your property competitively will help your property sell in the shortest time possible and thus avoid the stigma of longevity on the market.
Missing Peak Selling Activity
- A property generates the most interest within the real estate market community when it first goes on the market.
- By pricing your property realistically from the beginning, you can benefit from the greatest interest among buyers and brokers.
Losing Potential Buyers
- When priced above fair market value, fewer buyers are willing to consider your property or respond to your ad.
- Pricing your property competitively will help attract the greatest number of potential buyers.