Let's Start by Dispelling a Few Myths

• What you paid for your home does not affect its value.
• The amount of cash you need from the sale of your home does not affect its value.
• The amount of cash you want from the sale of your home does not affect its value.
• What another realtor says your home is worth does not affect its value.
• What an appraiser says your home is worth does not affect its value.

A Realtor Knows that the Market Always Determines the Value.

The value of your home is determined by what a buyer is willing to pay in today's market based on comparing your home to others currently on the market. Today's buyers are knowledgeable and more value conscious than ever. By using the internet they can look at a wide range of homes. When they look at your home, their extensive market knowledge and experience tells them quickly if it is priced correctly. Furthermore, their agent has access to all the same information your realtor uses to advise you on the price for your home. Their agent will advise them to make offers on which home is the best value. The best agent from the best company using the best marketing practices will not be able to sell a home that is overpriced.

Focus on Pricing your Home Correctly

Overpricing your home is the single most harmful factor to maximizing your final sales price. Why? Your home generates the most excitement the first few weeks it is on the market. When you overprice your home, agents and buyers will use your home to justify the sale of another property that is properly priced. Pricing right and making fast adjustments in your price if you've missed the target is critical because your property does not have a long "shelf Life". Generally speaking, buyers and agents do not have a positive opinion of homes that stay on the market longer than the area average.

Pricing Right Always Leads to a Quicker Sale for a Higher Price.

When you price your home correctly it creates excitement, and attracts more buyer appointments. But remember, price is a moving target because the market is in a continuous state of flux based on the motivation of the other sellers you are completing against. You can select the right price this week, and wait a few days only to find that your property is now overpriced based on new listings entering the market, and sellers who decide to reduce their price. Your realtor should be watching the market closely and advising you of changes. Be ready to adjust quickly if the market shifts. Staying aware of the market and strategically positioning your price against the competition is what changes a "For Sale Listing" to a "Sold Listing".