Listing Price Is The First Parameter In Real Estate Investment
This article defines the importance to determine the reasonable and right listing price. It also explains ways in getting the right listing price.
You or your realtor can decide the asking price for your property, but it is the buyer who decides on the selling price. If the listing price is more, practically the buyer won't try to negotiate with you. So it is very important to decide on listing price. It should open up the doors for negotiation with the potential buyers.
The logic is very simple. If you put insane prices, no potential buyers give any attention to it. If you project right price more, buyers will be attracted towards the property. It is true from the statistics that faster sales are assured for properties with correct and reasonable listing prices. You will surely get more interested calls from realtors as well. Your listing is the prime factor, which can decide whether you sell the property, or not!
There can be several reasons for a seller to overprice his property. I will strongly advise you not to overprice your home, as the potential buyers never pay any interest in the property that is overpriced. As a seller, you always want more money for your home. It can be in a good location or in an enviable neighborhood. But the buyer will not consider all these if the listing price is very high.
Many studies regarding the real estate business (in fact this is the one area where more and more statistical and scientific studies are going on apart from stock markets), brought out the fact that the first fortnight after the listing is the most crucial period in real estate business.
During these two weeks, or first few couple of weeks more than 90% of the inquiries come and mostly during this period the deals will be settled.
If your listing price is more, most of the buyers miss (intentionally) the listing during this period. Remember buyers are looking for home come with moderate or cheap prices. You can get immediate responses if and only if your listing price is reasonable or low.
How to determine the perfect listing price?
One important and effective way to determine the listing price is to get the appraisal of the property to assess the true value of the property. This is a good idea. By knowing the market value of your home, you can fix a listing price just below the market value. This will assure you the deal in a faster pace. Keep in mind; you should never quote a price more than the market value.
It is not the realtor determine the listing price, it is you as a seller determine the listing price. He can only advise you and give necessary support in finding out good buyers for your property. You can always be assured of getting the property sale as fast as possible with many interested buyers, if you have a right listing price.
® Copyright 2008 RealEstateBloom. All rights reserved.
Source: Free Articles from ArticlesFactory.com
ABOUT THE AUTHOR
Prue and her 1-of-a-kind site at http://www.realestatebloom.com helps you to make money in ways you've never known. Discover how to be a millionaire making money via real estate investment within days, even in a down market!