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  Price Your Home Right - Back
When you list your home for sale, your primary goals are to attract as much interest and as many potential buyers as possible, sell the property quickly, and make the most profit possible. Setting the right price for your home is the key to achieving these goals.

When you set the asking price for your property, you will consider several factors: How quickly do you need to sell your home? How much competition do you have in the area, and in your price category? What was the sale price of similar homes sold in the area in the past six months?

Just as important, you should not consider factors such as the original asking price of your property, the cost of improvements you’ve made, and the cost to build your home today. Above all else, do not consider the opinions of friends and neighbors.

Your real estate agent is the best source of information and advice when it comes to setting the asking price for your home. Your Realtor will prepare a comparative market analysis (CMA), which lists home prices in your area, including pending and recently closed sales. You can then walk through the list and note the sale prices of homes most like yours, as well as the competition of current offerings.

Your home is most marketable when it is first offered. Buyers and other real estate professionals are more interested and enthusiastic about a property in the first few weeks, or even days, of the listing. You’ll want to be sure that your home is priced on target from the beginning. An overpriced property can end up on the market longer, losing market interest and buyers, which can result in a negative impression off the property.

Overpricing or underpricing can cost thousands of dollars. Work closely with your real estate professional to price your home appropriately to achieve your goals.

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