Setting the right price

Finding the right price for your home is challenging.  If you set it too high, you run the risk of scaring away potential buyers.  If you set it too low, you have no room for negotiation or profit.

A good real estate agent will be able to help you find the right price, but some general guidelines are:

Get a CMA
A Comparative Market Analysis is a standard feature of most real estate agents’ plans.  You need to know how much similar homes typically garner in your area.

Look at similar homes
You’re out there looking for a new home yourself.  How much do similar homes in your neighborhood cost?  What about similar homes in similar neighborhoods?  It doesn’t have to be local to be comparable.

Finding the right price is tricky, but if you don’t find the perfect price you will be forced to lower your price and that often sends the wrong signal.  Ask your agent for some recommendations.

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