 |
|
|
|
| The listing price of your home is the main factor
that will determine whether or not you make a quick sale
or if you have your home listed on the market for quite
some time. The price is the bottom line for homebuyers
and determines what homes they will look at when they
are ready to purchase. Even though you may, with
consultation with your
Toronto realtor, set the asking price,
the selling price is actually determined by the buyer.
If you overprice your home with the intention of
reducing it through negotiation, there is a chance that
buyers won’t even consider it as part of their shopping
experience. The correct listing price of your home will help you make a quick sale. This will also attract more potential buyers to view the home and more realtors will be interested in bringing in their clients to have a look at it as well. It will make the difference between selling your home very soon after you list it with a realtor or having to make reductions in the price at a later date. There are various reasons why some sellers overprice their homes. They may want to realize a larger profit from the sale due to the lack of homes on the market in the area or in the design of the home. While location and the size and style of the home are factors that buyers do take into consideration when shopping, the listing price is the most important one for them. Potential buyers may like your home and its location, but if the price is too high they will not even give it more than a cursory glance. As soon as you list your home on the real estate market and the price is right, there will be a flurry of activity within the first few weeks. If the price is right, you may have immediate interest and realize a sale right away. If there are several interested buyers, there may be a bidding war between them, in which case you may even get more than the asking price rather than have to negotiate for a lower price. With the low interest rates, there are many potential buyers looking for homes but the price has to be right for them. Pricing your home too high above its market value could mean that buyers ready to make a sale will not even come to see what you have to offer or even make a lower offer on your property. In order to have a more realistic listing price for your home, the best advice is to have it appraised before you put it for sale. This will give you a value to work with because lenders will not approve a mortgage for a home with a listing price above the appraised value. Once you do have a price to work with, your listing price could equal the appraisal price or you can go a little under this to make the property more enticing to potential buyers. With the competition that exists in the real estate market, you do need to do what you can to draw interest from buyers. Your Toronto realtor may also give you information about what homes are selling for in your area, but these people have little control over the selling process. They can give you advice about the listing price, but the final decision about the price is yours and yours alone. The important thing is that you choose a listing price that is right and you will not have any problems with the sale of your home.
|
