Escondido, California
Sell Right Guide - Lesson 5

Common Misconceptions About Home Pricing and How to Avoid Making Them

So, what is my home worth? That's the most common first question that you might have asked yourself when you decided to sell.

You might have even gone across the street (or a block over) and looked at what homes are selling for in your area. This may have given you a good ball-park figure. The problem with basing your price figure around homes in your area (that are for sale) is that you are putting your trust solely on the fact that the Agents that priced the homes you looked at, know what they are doing.

What you may not have considered is that the Agents who priced those homes may have priced them where they are just so they could appease the homeowner. They may expect to come back to the homeowner 2 or 3 times asking to lower the price and they don't mind waiting. Why should they? It's not their house for sale!

The problem with the price-high-maybe-we'll-get-lucky price scheme is that the amount of time to sell the home can be several times longer than a home that was priced right in the first place.

So, is a high price more important to you than selling your home quickly (or even a reasonable amount of time)?

It is absolutely imperative that you price your home at Fair Market Value from the beginning of the listing. This will ensure that you will sell your home for the highest price in the shortest amount of time.

Often 80% of the effectiveness of marketing a home is linked to where you price your home from the start.

Additionally, the first offer you receive on your home is usually your best offer. The amount of time it takes for you to receive that first offer will vary greatly depending on how close your price is to Fair Market Value.

Fair Market Value is not:

- What another Agent says a home in your area is worth

- What your neighbor says his home is worth

- What you think you need to make from the sale of your home

- What you want to put in the bank from selling

- What you paid for the property last year

Buyers and Sellers Determine Value…Together!

The value of your property is determined by what a Buyer is willing to pay and you (the Seller) is willing to sell for in today’s market. That's the true Fair Market Value of your home.

The buyers of today have all the information that you have. They will base their offer by comparing your property to other sold properties in your area. They will evaluate your home against the other’s comparing the cost verses the value.

Tomorrow Lesson 6 - Escondido Sell Right Guide

Tomorrow you'll receive Lesson #6 of the Escondido Sell Right Guide, which will reveal the the Secret to controlling Buyer Demand for your home and how fast it sells!