To get the highest price in the shortest period of time, your home needs to be priced effectively. After a comparative market analysis (CMA) your home should be priced competitively. If your home is priced too high it will languish on the market. If your home is priced too low you will be leaving money on the table.
It is important to understand that even if you start with a high price thinking you can lower it later (which you can), you will never have the same amount of activity that is generated by a brand new listing. When a home sits on the market for a longer period of time, people often will think there is something wrong with the home and may not realize that it was just over-priced.
Once your home is priced, it will need to be effectively marketed to potential buyers. The better your home is marketed, the more offers you will get. And the more offers you get, the more choices you have to get the price and terms you want.
It’s also important to make sure that your home shows well. If it is “move-in ready” a potential buyer will be more interested in it. If it needs work done to it, it will need to be priced lower to make it more attractive to buyers who will overlook the blemishes because the price is right.
Keep in mind that a nice looking home can trigger an emotional response that can stimulate a financial response—an interested buyer.
When you get to the point of negotiating make sure you do not get too emotionally involved in the process. If you are working with a real estate professional make sure you seek their professional advice during this challenging time.
If all goes well, you should be able to get the best price in the shortest period of time.
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