When it comes to buying a home, most potential buyers will use the listing price as the number one factor to determine the homes that they look at. Even though you and a realtor may determine the asking price, the buyer will determine the selling price. If the price is too high, most buyers won’t give it a second thought - which is why you want to determine the listing price extremely carefully.

If you set the correct price, you’ll notice a much faster sale. Setting the right listing price will also attract more potential buyers to your property as well. You’ll also notice an increase in response from realtors, and receive more calls about the property. The listing price is very important - and it can ultimately determine whether or not you sell your property.

A home can be overpriced due to several reasons. Overpricing is something you want to avoid, as buyers tend to steer clear of homes that have been overpriced. Normally, this happens when a seller asks a lot more than the home is worth or valued at. Some sellers ask a lot more than the value of the home due to location. Although the location is very important, most potential buyers won’t give the home a second look if they think the price is too high - and more importantly out of their price range.

When you put your home up for sale, most activity will happen within the first couple of weeks. If you put the right price on your home, you’ll notice immediate interest. There are always buyers looking for homes in their price range, waiting for new homes to be listed or homes to be reduced in price. Buyers who are waiting to purchase may miss seeing your home completely if the price is too high.

To determine the listing price of your home, you could always have it appraised before you put it on the market. This way, you’ll know the full value of your home. You can sell it for market value or go a little under, although you should never attempt to go way over the value. In doing so, you’ll miss out on a lot of potential buyers.

Keep in mind that realtors really have no control at all over the real estate market, only the plan behind marketing. Realtors don’t determine the asking price - the seller does. You can ask a realtor for advice, although you are the decider of your listing price. If you do things right and take each thing step by step, you’ll set the listing price in the right area and have no problems selling your property.

Whatever you do, if a Realtor or real estate agent (remember there’s a difference ;-) comes in and tells you that this is what your home should be listed at based on the comps they presented to you, then do not under any circumstances say “well let’s list it at this higher price for a couple says or weeks first!”

Ladies and Gentlemen that is a sure-fire way to have your home SIT THERE and NOT BE SOLD!

If you decide to hire a real estate professional than please, please, please let that professional do their job! Part of their job is determining the proper listing price. And once they tell you what they think it is, if you decide that you KNOW better or that you just want to get a little bit more for your property well the only person you’re doing a diservice to is YOURSELF!

In closing let me ask you this: heart

If your heart surgeon told you that you needed to have your heart operated on and this is how he/she was going to do the surgery, would you then tell them “wait doc, let’s try it this way first to see how it goes!”

Your heart surgeon is a medical professional…let them do their job.

Your Realtor or real estate agent is a real estate professional…let them do their job, too!

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