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| Step 2 - Pricing
Strategy |
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Your next objective is to consult
with your real estate agent to determine the best possible
selling price of your home. You will need to take into account
the state of the local market, the condition of your home, and
sales of comparable homes in your neighborhood. He or she will
create a comparative market analysis by taking into
consideration the type of market you are in and recent sales
of comparable properties. Your agent will then guide you to
the best fair market price that will help sell your home
within your desired time frame. Usually, real estate agents
have a clearer and more objective sense of market value than
anyone else- including appraisers!
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Often, it can be hard for you, as
a seller, to also maintain objectivity, so remember to be
reasonable about the price you set. You will always be better
off setting a fair market value price than setting your price
high expecting that someone will come along and be willing to
pay it. If your home stays on the market too long because it
is overpriced, potential buyers may think that something is
wrong with it and you may end up selling it for less than what
you could have gotten if you had started out with a realistic
asking price.
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