REAL ESTATE 101
Real Estate PRICING LOGIC When it comes to pricing your home for sale, there is not one, but two objectives that immediately come to mind:
Price Range The pricing of a home is not an exact science. It is extremely rare that any two properties are identical. In evaluating homes, one must determine what effect the differences will have, and that becomes a matter of rational opinion. For this reason, the appraised value of a home will usually fall within a price range rather than a single definite figure. At the top of the range it will probably take longer to sell, at the bottom end it may represent better value and sell faster. When you choose a sales agent to represent you they are obligated to get you the best possible price. However, without giving due consideration to your motivation with this consideration, the second objective of “Least amount of inconvenience” will be in jeopardy. You see, getting you the best possible price may take time, especially if the home is special and unique. If you can afford to be patient, the right buyer who has the same values as you do may appear and be prepared to pay top dollar for your home. The big question is, can you afford to wait? On the other hand, if time is of the essence and you are anxious to move on and minimize the inconvenience of waiting, you can influence a greater number of buyers who may not fully appreciate your home to at least consider it because of the attractive price. In most real estate markets, it is not always reasonable to expect top possible dollar and also have a quick sale. To serve you well your real estate agent needs to fully understand your circumstances and you need to be frank in sharing your “motivation” information. The following illustration may provide a clearer understanding. 
So, in view of the above diagram, when a conscientious agent provides you with a price range for your home, you will have the responsibility of positioning the price within the guideline provided, not the agent. It can be a difficult decision but it is the agent's responsibility to serve you well. Your agent should have all the local market knowledge to provide you with accurate guidelines and insight into current market conditions. Each Most Referred Real Estate Agent has a reputation as a local market expert and for providing a high level of customer satisfaction. If you are currently searching for a real estate agent, feel confident using a Most Referred agent. Each agent has been nominated by their peers based on honesty, integrity, superior customer service market knowledge. STAN PENNY Broker Nominee Most Referred Real Estate Agents COACH'S COMPASS © 2004 Most Referred Real Estate Agents This information is intended as a guide for those interested in finding a real estate agent to assist them with the purchase or sale of a home. It is not intended to solicit services from those who have already signed listing agreements with a licensed Realtor or to act as legal advice. It is always best to take your questions to a licensed real estate professional in your local area. Find respected agents in your area at mostreferred.com. Most Referred Real Estate Agents® and REALTOR® are registered trademarks of their respective companies. |
