Seller's Guide - Page 6

Setting a strategic asking price Determining the best asking price for a home is one of the most challenging yet important, aspects of selling it. You’ll find that it’s a balancing act. You don’t want to set a price that’s so high that it discourages showings and serious offers from qualified, motivated buyers. On the other hand, you don’t want to set a price that’s so low that it attracts lots of interest, but sets the stage for offers and negotiations that could result in your getting a price that is anything less than its full market value. When you make your decision to sell, do plenty of research and seek out the advice of your Houlihan & O’Malley real estate agent. So, what’s your home really worth? In a perfect world, your home’s value would be everything you’d wish and need it to be. However, simply put, your home’s value is not determined by you, but by what the market is willing to pay for it at a given time. These days, the market increasingly includes homebuyers who have researched property values online for months and have already viewed at least ten homes. In trying to determine your home’s true market value, you should: • Try to be impartial. Unfortunately, the market is not interested in what you originally paid for your home, or how much you need to sell it for in order to buy your next home or meet your financial goals • Keep in mind that your home may have features that you value highly but are not of interest to potential buyers • Temember why you are selling. Do you want to sell or do you need to sell? • Do research both online and in person. You can find out a lot about your local market through websites like homrealestate.com and by going to open houses in your area and comparing your home in terms of location, size, features, and condition 6 133 Parkway Road, Bronxville, NY 10708 Consult with a Houlihan & O’Malley real estate agent A comparative market analysis (CMA) is a document, drawn from a local Multiple Listings Service (MLS) database, that offers pricing information, property details, and photos of homes similar to yours that recently sold (termed “comparables”), failed to sell or are currently on the market in your area. A Houlihan & O’Malley real estate agent will typically provide you with a CMA as part of a listing presentation he or she delivers at your home in hopes of being able to exclusively represent your