• To the tax assessor
• To your lender, when you buy or refinance your home
• To your insurance company
• To the prospective buyer making an offer on your home
• To you the home owner!

To Obtain the Highest Possible Price:

• Be aggressive, but be thorough, in your asking price
• It is reasonable to test the limits of the market without overpricing your home
• Challenge the competition by having the most features (value) in your home for a comparable price

In the End...The Market Dictates Value:

• Based on conditions of the market
• Interest rates
• Supply and demand of home inventories (the competition)

Where to Begin:

• You may want to visit some of the competition with your listing agent
• Buyers will compare your home to other similar homes
• Buyers will not negotiate with unreasonable sellers
• Check the homes that have recently sold
• Ask for a list of homes that were on the market that did not sell. This will tell you what buyers were or were not willing to pay.

The Listing Price:

• This is what will attract buyers to your home
• This will generate activity to bring about a sale
• You will know your success rate within 2 weeks after listing your home with a lot of activity and no offers

So What Have You Learned?

• The best price for your home was based on the current market
• The ultimate sales price was determined by the market
• Do not bank on your buyer to be so crazy about your home that they want to overpay for it
• The buyer's lender will only lend the funds for true market value
• You must meet and beat the competition to get your home sold quickly
• The terms of the contract must be amicable for both buyer and seller

Do You Still Want Your Home Listed Too High?

• Your competition just thanked you loud and clear
• You probably helped them sell their home

Linda Price

RE/MAX of Naperville       Direct: (630) 753-1333       Office: (630) 420-1220 x3083       Toll Free: (800) 638-1220

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Copyright © 2007 Linda Price and LP Real Estate, Inc. All Rights Reserved