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Seller's Guide |
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 RealStar uses the same MLS other Realtors do. The Players The Listing Appointment Buyers Influence Best First Impressions Showing Tips Contracting Your Property Get RealStar & Get Sold! |
There is an axiom that holds true for all sales regardless of product. 'The Seller sets the price but, only the Buyer sets the value'. That means, until a buyer is willing to pay for your product you don't have a sale. That is particularly true in today's competitive real estate market. Can Buyers Influence Price? Absolutely. We are living it right now. Some areas have seen real estate values drop 30% or more. Seller's that want to sell cannot be priced 'out of the market'. They have to be competitive with other properties for sale. Buyers have as more influence on the market prices than sellers believe. More importatnly, demand by the Buyer sets the ultimate price. In areas of less demand the prices fall. In areas of high demand (i.e. popular relocation areas) the price bar always seems to be rising. A fair market value will be determined by comparing the property with similar properties which have recently sold, and (in some cases) with similar properties currently on the market. A common definition of market value is: 'What a ready, willing and able buyer will pay, at a price a seller will accept.' Today's buyers are sophisticated analysts and have a great deal of information available to them. Make no mistake these buyers will be taking a 'show me' attitude when it comes down to home values. Remember, a house priced over market value discourages offers. Buyers who think they can get 'more house' for their money elsewhere, will. Buyers who cannot afford the price simply won't look. |
