Setting the Sales Price

Before setting the sales price of your house, a Comparable Market Analysis (CMA) is run 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 CMA Report provides information about houses currently on the market.

Next, set your goals in selling the house. Everyone who sells a house has different goals that need to be factored in when calculating the selling price.

• Is your goal to get the maximum sales price for your house?
  • If so, are you willing to have your house on the market longer?

• Is your goal to sell your house quickly?
  • If so, are you willing to sacrifice some of your potential profits to sell more quickly?

• Would you like to establish a balance between selling your house quickly and selling at the top end of market value?

Market conditions will play a role in setting the sales price of your house. Some of those factors include existing housing inventory for sale in the market in your price range, local market and pricing tiers, interest rates, the strength of the school system, and whether it is a buyer's or seller's market.

Finally, the features and overall condition of your property affect the sales price you can expect. A few changes/repairs can sometimes make the difference in attracting buyers.