The Ten Most Important Questions When Analyzing Your Pricing Strategy
When considering the Asking Price for your home and how you want to be positioned in the market, the answers to the following questions are very important:
- Is the local market rising, falling or staying even?
- Is my opinion of the value of my home based on actual neighborhood sale prices?
- How many homes in my community are competing against mine right now and how does mine compare?
- Have any neighboring homes been on the market too long and if so, why?
- Is my home consistent with, larger than, or smaller than the surrounding neighborhood homes?
- What improvements have I made since purchasing my home that will actually increase its value, which ones won’t?
- Are my financial needs influencing my asking price – am I willing to price my home correctly and stand firm?
- Is my original purchase price influencing my asking price?
- Are the benefits of moving important enough to price my home at the current market value?
- Am I selecting my REALTOR® representative on the basis of his value proposition, his fully integrated, multi-dimensional, written marketing plan, to which he is willing to be held accountable or, a price I want to hear?