While your Realtor® can provide you with listings and sales of comparable homes in your area and current information on trends in the market, the final decision on pricing your home is up to you. Your pricing strategy will certainly affect the sale of your home, and will be different in every circumstance. Here are some general pointers to keep in mind when pricing your home:
The value of your home is not:
- What you have in it.
- What you need out of it.
- What you want.
- What it appraised for.
- What you heard your neighbor’s house sold for.
- What your neighbours are asking for their home.
- What the tax office says it is worth.
- How much it is insured for.
- Based on memories and treasures.
- Based on prices of homes where you are moving.
The true market value of your home is what a buyer is willing to pay:
- Based on today’s market.
- Based on today’s competition.
- Based on today’s financing.
- Based on today’s economic condition.
- Based on the buyer’s perception of the condition.
- Based on location.
- Based on showing accessibility
You control:
- The price you ask.
- The condition of the property.
- Access to the property.
- Your timing.
- Marketing.
- Negotiation.
You do not control:
- Market conditions.
- Your competition.
- Availability of financing.
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