Beaming with excitement, you agreed with your real estate agent to list your property at a price you were sure the market would accept. Your real estate agent agreed with your price and actually placed a little mark up on it before putting your property on the market. More than a month later your property did not score even a single inquiry. Three months later the listing expired without a real offer being made. You hired a new real estate agent, and was dismayed when he advised you that your property must list at a much lower price. After a few weeks, your property sold for a price below what it was listed for.
The main reason your property did not sell at the sum you had originally wanted was that your price was higher than the market price. An important action you should have taken before listing your property was to research the prices of similar properties that are listed in neighbourhoods similar to yours. You could also have your property appraised by a professional so that you can determine the price range your house will sell for. Even if you insisted on doing everything yourself to sell your property, the main thing that will impact your ability to sell it quickly would be the price. Set the price too low and you might find your property snapped up without you getting fair market value for it. Set the price too high, and your property will remain unsold for too long. Ask any realtor who list homes for sale in Brookline MA, or other parts of the US, and they will tell you how important it is to establish the right price for properties.
Even with a property appraisal and expert opinion on the price of your property, you may need to pay attention to what buyers are willing to offer. Comparing prices from listings like Boston houses for sale is one step in setting the best price for your property. You would need to make adjustments based on the range of prices you find and use that to inform the final price for your property. Although setting the price too low may run the risk of you getting an offer that is too far below market price, the number of offers you may receive could actually help to drive prices back up closer to market so that your risk of loss is reduced. The real danger is in the setting of prices too high that cause your property to remain unsold for too long.
Depending on how high you had set your initial price and the number of times your property had to be listed, it may remain on the market for periods that could run in excess of a year. Imagine waiting a whole year before you could see the returns from your property. During that time you have to keep paying the mortgage, maintaining the premises and keeping the place fresh just in case someone wants to see it. This takes time and effort and with each successive listing the price drops. Tired and exhausted of listing on homes for sale again, you accept a list price that may be well below market value. This is a situation you should avoid.
Please contact http://www.tazar.com If you looking for a Boston apartments for sale or if your looking for a Boston real estate jobs that has the potential to make over 150k+ your 1st year. Thank you for reading and please let us know if you like to read more about homes for sale Brighton MA.
Please note the content is not intended to be, legal or investment advice. You should consult a licensed attorney or realtor for advice regarding your individual situation.