For Sale By Owner - Pricing It Right 3 Reasons Why!

Example 1:

A $250,000 home is priced 10% below the true market value at $225,000. The
home sells quickly with little or no negotiation for possibly an all cash offer
to close quickly. This buyer maybe an investor who is extremely market savvy or
a buyer who works closely with a Real Estate Agent using cutting edge buyer
programs. This buyer probably has a VIP Buyer Agreement with his agent
and receives emails daily with all the new listings as they come on the market.
Both of these buyers are able to act before most other buyers even know the home
is for sale, they know the area and the pricing. The seller leaves $25,000
on the table and doesn’t know it until it’s too late.

Example 2:

A $250,000 home is priced 10% above the true market value at $275,000. The
home gets no buyer interest or activity, no drive bys after 90 frustrating days
the seller reduces the price to $264,500 (still above market value). The home
still has no buyer interest or activity, maybe an occasional drive by. So again
after 90 more agonizing days they reduce the price to $259,900 (still above the
market, but within the at least look at range). Activity does pick up but
the home now appears old on the market, the advertising photo’s are all now
out of season, the visual tour looks dated. Finally an offer if you’re lucky
at $235,000, after days of back and forth negotiation you get it up to $242,000,
what a deal. Now after 6 months of agonizing frustration you lose $8,000
plus all the extra costs of mortgage payments, interest, taxes, marketing,
repairs, maintenance, explaining to your friends why, and worst of all, the home
you wanted to buy is now sold.

Example 3:

A $250,000 home is priced correctly for the true market value between
$249,500 and $251,900. This home gets more buyer activity and more offers than
the over priced homes on the market. Homes priced at true market value normally
sell within 30 days. Of all homes listed less than 40% sell in the first 30
days on the market. This seller will probably get a close to full price
offer and negotiate it up to full price without much effort. No extended
marketing, no explaining to friends and family why and you get to buy the house
you wanted first. Price it right, sell quickly and for top dollar. Move on
with family to your new home with the least amount hassles.

There are costs involved with selling your home. You must decide which cost
you want to pay, the normal marketing, commissions, and closing costs or add in
the costs of too high or too low pricing. With a little research and knowledge
you can price it right and save a bundle.

Bill Carey offers insights to the buying and selling process of residential
real estate for F*R*E*E information and reports see http://www.BillCareyRealtor.com
"Insider Real Estate Secrets Revealed" ...a must-read for Home-Owners
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