Determining the best asking price: the best list price results in the best sales price. It’s important to avoid under-pricing and giving the property away or overpricing and scaring buyers away. If you over-price, you get what’s called “market age.” With market age, you lose the golden time, which is the first three weeks when 80% of the showings occur. We determine the best price through a market analysis.

Market analysis: The market analysis has 3 components. The first component is homes that recently sold, it tells us what people are actually willing to pay for similar homes. The second component is homes that are on the market right now, your competition, what other buyers will be looking at when they look at your home. And finally, the 3rd element is homes that didn’t sell. In our business we call them expireds. It tells us what people are not willing to pay for similar homes. It also tells us the consequences of over pricing. The market analysis will help determine the very best asking price which results in the very highest sales price.
 

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