When selling, it’s in your best interests to consult an experienced Realtor whose expertise will be key in pricing your property to reflect its current fair market value. It is absolutely essential that this occur at the beginning of the listing period.
Realistically, your home’s introduction to the real estate market should inspire area brokers to rush enthusiastically back to their customer files, in hopes of finding…your buyer.
A determination of fair market value should be exactly that—fair market value. Therefore, seek out a Realtor who will tell you what you need to hear, not necessarily what you want to hear. Be wary of broker quotes that sound too good to be true; they may be so merely to obtain the listing on your property.
In short order you may be playing the “price reduction game.” Despite the emotional worth you place on your property, asking more can actually bring less. Overpricing minimizes Realtors’ avid promotion of your property, resulting in loss of that “first strike” opportunity when the price inevitably drops.
Last, but not least, resist the temptation to purchase your next property contingent on the sale of your present one—it may jeopardize your bargaining position with the buyer of the home you’re selling.