Pricing Your Home to Sell
July 17, 2007
I subscribe to a great real estate news service, Inman News. Daily I receive articles about real esate related subjects. This morning there was an article by Jim Remiley of Pro Performers Seminars. The article was entitled "The Secret of Pricing Your Home to Sell".
His introduction paragraph read as follows:
"Contrary to popular belief, when selling your home its value is determined by one thing and one thing only - what a qualified buyer is willing to pay for it. No more and no less. Sure, many sellers will argue that their home has an insurance replacement value, or an appraisal value, or a tax assessed value, but unless your insurance agent, your banker, or your tax assessor is willing to write a check for your home - guess what? None of that matters. A home without a buyer has no value in the market place. Sure it might have a value to you the seller, and it might have a value to your banker, and to your insurance agent, and to your appraiser. But none of these people are buyers.
So here is the secret to pricing your home to sell - It's not what you think the home is worth that matters, it's what a reasonable buyer will think your home is worth that will ultimately determine if your home will sell."
Obviously these opening paragraphs do not give a seller any real idea of what is the price to list a home. A licensed real estate agent who prepares an in-depth market analysis can certainly give some reasonable data about the current market. Pricing a home is not a science, but it can be based on real data and an educated analysis.
Look back at a few of my previous blog postings and check out the market. Tomorrow, I will address more of the secret of pricing your home to sell.
I subscribe to a great real estate news service, Inman News. Daily I receive articles about real esate related subjects. This morning there was an article by Jim Remiley of Pro Performers Seminars. The article was entitled "The Secret of Pricing Your Home to Sell".
His introduction paragraph read as follows:
"Contrary to popular belief, when selling your home its value is determined by one thing and one thing only - what a qualified buyer is willing to pay for it. No more and no less. Sure, many sellers will argue that their home has an insurance replacement value, or an appraisal value, or a tax assessed value, but unless your insurance agent, your banker, or your tax assessor is willing to write a check for your home - guess what? None of that matters. A home without a buyer has no value in the market place. Sure it might have a value to you the seller, and it might have a value to your banker, and to your insurance agent, and to your appraiser. But none of these people are buyers.
So here is the secret to pricing your home to sell - It's not what you think the home is worth that matters, it's what a reasonable buyer will think your home is worth that will ultimately determine if your home will sell."
Obviously these opening paragraphs do not give a seller any real idea of what is the price to list a home. A licensed real estate agent who prepares an in-depth market analysis can certainly give some reasonable data about the current market. Pricing a home is not a science, but it can be based on real data and an educated analysis.
Look back at a few of my previous blog postings and check out the market. Tomorrow, I will address more of the secret of pricing your home to sell.
posted by shirley harry at 6:55 AM
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