THE PERFECT ASKING PRICE

This is the asking price that will get your home sold for the most amount of money, in a reasonable period of time. If you ask less, you get less. If you ask more, you also get less.

How do you find that number? Well, first off, you have to avoid the lazy “3 comparable homes” pricing analysis that most agents do. Banks do a 3 home analysis because they are just making sure the mortgage is not backed by a home that is worth less than the mortgage. To get the PERFECT ASKING PRICE you need a thorough neighborhood pricing analysis of all the homes that have sold, are currently on the market, and even those that expired unsold. You want more than just the 3 homes the agent selects, you want the complete picture.

This study will take longer to produce and to review, but it is well worth the extra time and effort it requires.

WARNING: Once you have this number you face a huge challenge. It is totally natural for a homeowner to feel their home is worth more than the market indicates. This is not due to greed, but a good thing, pride of ownership. It’s what makes a neighborhood look good. It is tempting for a homeowner to ignore the facts and keep interviewing agents until they find the one that will tell them what they want to hear. Eventually they will find an agent who wants their money badly enough that they will say whatever they think the homeowner wants to hear. (This agent will also feel no guilt in calling every week to insist that you slash your asking price if you want your home sold).

To get the most for your home, make sure you get a thorough neighborhood pricing analysis, view it objectively as if you were a buyer trying to find your best deal, and pick an agent based on what they will do to get your home sold, not the one who suggests the highest asking price.