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Seller-Pricing My Home to Sell/Buyer-Determining What to Offer

One of the most challenging and often the most crucial part of selling a home is pricing. Determining at what price to make an offer to purchase is equally challenging. Your objective as a property owner is to sell your property at the highest possible price.  As a buyer your objective is the polar opposite.

Any product is only worth what a buyer is willing to pay. Try to determine what similar properties sold for in your area RECENTLY. The resultant range of value should establish high and low realistic selling prices.

Forest Gump says "my momma used to say...". Well my daddy used say "get three estimates for everything"  So...the other half to any pricing analysis is to check out the competition. In this case it is most important to see what your competition is asking for their properties. It is not enough to look only at properties in the immediate neighborhood.

After gaining a broad enough knowledge of the marketplace "the numbers" should "talk to you". In general asking prices are higher than actual selling prices. It is important to price your property as close to fair market value as possible from the outset.

Buyers shop around and compare your "product" to others in the marketplace. The more you look at your own property as a product that "must stand on its own feet" in the marketplace, the more realistic you will be in pricing your property to sell quickly.

There are really only three ingredients to a successful real estate transaction, they are price, location and condition.  Location generally cannot be changed.  The condition and price of a property can be changed and are crucial.  The fact is serious buyers reject overpriced property quickly because all buyers analyze the same way - by comparison. Establishing the correct price at the outset will save you time and money.

Whether you are contemplating buying, selling or both, please consider me your source for real estate information in Kansas City.

For more information about pricing to sell or how to determine a offer price and why both are important, you may wish to read the articles below.

http://www.tfarrell.com/article.INeedToNet.html

http://www.tfarrell.com/article.PerceptionisReality.html

To receive your free computer generated market study, please complete the form below then click the submit button or click file, then print the form and e-mail tfarrell@tfarrell.com or fax to Terry Farrell (603) 215-8652 - no cover page is required.

Whether you are a seller, a buyer or both - more information is better
than less. My property analysis will rely on the form data you enter below which will assist you in determining an asking price for your home or an amount to offer on a home you wish to purchase.  If you need help, call me locally on my direct line (913) 339-0615 or if your are outside of KC 800-391-BEST(2378) X 106.  

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