|Is your price right?|
Julie Garton-Good, GRI, DREI
talked to four different real estate firms. Three of the market analyses showed
a similar price, but the fourth was considerably higher. Is there any harm in
starting at the highest price and working down if we have to?
three out of four comparative market analyses were close, it leads me to believe
that the fourth was not a true reflection of market value. Unless there was
additional information known only by the fourth company, the approximate value
indicated by the other companies is probably closer to what a ready, willing and
able buyer might offer.
Although it is unethical, agents have occasionally been
known to "bid" for listings. It's important that your home be
competitively priced the moment it hits the market since an overpriced property
will be quickly forgotten by buyers and real estate agents alike. Statistics
show that not only will an overpriced listing take longer to sell, but the sales
price will usually be lower than true market value. Don't waste your time (or
the salesperson's) in being unrealistic about the listed price.