Judy Walling
Real Estate Edmond, OK

Setting the Sales Price

Before we set the sales price of your house, I'll run a Comparative Market Analysis (CMA) that will show the listing price of similar houses in the area as well as the prices at which the houses actually sold. Additionally, the analysis will give us information about houses currently on the market and about houses that were on the market but never sold.

The Dangers of Overpricing

· Attracts the “Wrong Prospect”- Most will be expecting to see more and will be disappointed when they compare your home to others on the market that are priced correctly.

· Loses Qualified Buyers-They are looking at similar homes that are priced right.

· Helps Sells Other Homes-Your higher price makes competing homes more attractive to qualified buyers.

· Eliminates or Fewer Offers

· Can Lead to Mortgage Rejection-A lower appraisal can cause the mortgage to be rejected.

· Reduces Advertising Response and Sales Leads

· Reduces Showings by Realtors-Other agents know current values and will not waste time on overpriced property.

· Market Ages the Property-When the price of property is eventually lowered, it will be market aged and burdened with a poor reputation.

· Ultimately Will Attract “Bargain Hunters”-When the price of the property is eventually lowered, it will attract bargain hunters who , hoping for a desperation sale, will come in with an even lower offer