Ask How Homeowners Estimate Their Home Value | Real Estate Guide

Sellers tend to think this equates to fair market value and sale price (wrong)

First off, let's talk about the first critical error sellers (and even their agents) commonly make. It boils down to people associating the Fair Market Value, Ask Price and Sale Price all being directly tied together. They affect each other but are not tied, and they affect each other stronger in the reverse way of what people tend to think. You see people tend to believe that to get more for their home, they should simply ask for more. They tend to think that the way to increase the fair market value, is to ask for more. The fair market value range is the first determiner of what the home will reasonably fetch, but that amount is directly affected in an often INVERSE manner.

It equates to what people, and how many potential buyers view your home online and in-person…. During the all-important launch phase and after

The Ask/List Price serves 2 critical functions pertaining to Buyers and their search

Buyers and agents filter out inappropriate properties (this is second only to location)

Invites an offer or offers depending on the pricing strategy

Sometimes “Less is More”

$1 over your proper price bracket can be devastating to the critical launch phase

Relates directly to Days on Market which also affects the offer price and end sale price.