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Selling
Your Home Quickly for Top Dollar
By: Robin Sukhu - Real
Estate Agent
Re/Max 2000 Realty Inc.
What
matters when selling your home is what
the market is saying to you. Not what
you think your home is worth nor what
your agent thinks. Getting the best deal
and top dollar often comes down to being
an educated seller, and it is the role
of an experienced and knowledgeable agent
who is in tune with the market to educate
the seller on value.
Price your home right Pricing is Everything!
Before you decide whether to price your
home above or below the market value,
look at your neighbourhood activity, the
number of homes on the market and how
quickly they are selling. Compare your
home to similar properties, make adjustments
for any differences and factor in general
market changes to sale values.
Pricing
your home lower than other sellers often
generates multiple offers, thereby driving
the price higher. On the other |
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hand,
pricing it too high and buyers may be
shocked by the price and not consider
it at all.
The benefits of pricing right
1. Your property sells faster, without
hassle and inconvenience, because it is
seen by more qualified buyers.
2. Your home doesn’t lose its “marketability”.
3. The closer your price is to market
value, the higher the offers you will
receive.
4. A well-priced property can generate
multiple offers from buyers.
5. Real Estate Professionals will be enthusiastic
about presenting your property to serious
potential buyers.
The results of overpricing
Many sellers believe that if they price
their home high initially, they can lower
it later. Often, when a home is priced
too high, buyers and their agents think
that you will not come down to the market
price. Your home experiences little activity
and sits on the market. Gradually, the
seller will lower the price down to market
value. The MLS Listing will show how long
your property has been listed for sale.
Some buyers will be wary of a home that
has been on the market seemingly too long
and reject the property.
On occasion, the price is dropped below
the market value because the seller runs
out of time and the property is sold for
less than its value.
Missing the right buyer
You may think that interested buyers “can
always make an offer”, but if the
home is overpriced, potential buyers looking
in a lower price range will never see
it.
Those who can afford a home at your asking
price will soon recognize that they can
get a better value elsewhere.
The importance of early activity
As soon as a home comes on the market,
there is a flurry of activity surrounding
it. This is a crucial time when Real Estate
Professionals and potential buyers sit
up and take notice. Usually, this activity
slows down in the third week.
If the home is overpriced, it doesn’t
take long for interested parties to lose
interest. By the time the price drops,
a majority of buyers are lost.
The longer your house sits on the market,
the more negative a response it receives,
and the less cash it commands. If you
have to sell in a slow market, study the
current trends, forget old values, recognize
current values, and price your house lower
than others in your Market. Start at a
sale price that is going to entice buyers
from the get go. You will be the first
one to sell in your neighbourhood and
you will win from there.
© Copyright
2010 Robyn Sukhu |
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| Articles |
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Selling
Your Home Quickly for Top Dollar
What matters when selling
your home is what the market is saying
to you. Not what you think your home
is worth nor what your agent thinks.
Getting the best deal and top dollar
often comes down to being an educated
seller, and it is the role of an experienced
and knowledgeable agent who ...Read
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