10-Step Selling Process

Step 1 | Step 2 | Step 3 | Step 4 | Step 5
Step 6 | Step 7 | Step 8 | Step 9 | Step 10

Step 2: Pricing strategy

Your next objective is to consult with your real estate agent to determine the best possible selling price of your home. You will need to take into account the state of the local market, the condition of your home, and sales of comparable homes in your neighborhood. He or she will create a comparative market analysis by taking into consideration the type of market you are in and recent sales of comparable properties. Your agent will then guide you to the best fair market price that will help sell your home within your desired time frame. Usually, real estate agents have a clearer and more objective sense of market value than anyone else- including appraisers!

Often, it can be hard for you, as a seller, to also maintain objectivity, so remember to be reasonable about the price you set. You will always be better off setting a fair market value price than setting your price high expecting that someone will come along and be willing to pay it. If your home stays on the market too long because it is overpriced, potential buyers may think that something is wrong with it and you may end up selling it for less than what you could have gotten if you had started out with a realistic asking price.