Strategies in Pricing Your Home

Understanding Maine's Real Estate Market 

Selling your home quickly and for the right price in today's ecomomy is a balancing act: Price too high and you won’t sell, but price too low and you may lose money. The stakes are high! Although the market is not as strong as it was in 2005 through 2007, homes are still being sold every day. The information below help explains how we can assist you in making the best decision. 

Start with a Comparative Market Analysis 

With this service, we look at all the factors that might influence the value of your property, and establish a price that's guaranteed to attract buyers. Our CMA includes a thorough inspection of your home, research on other sold properties in the area, and tips on how to quickly make your home more attractive — some of our findings here could bring as much as five dollars in extra sales price for every dollar you invest.

We will also provide you with a checklist of strategies to sell your property for the highest value possible. Addtionally, our home marketing programs are focused on ensuring that you achieve the maximum market exosure, especially on the Internet. Putting this kind of care into pricing and finding the market niche for your home will also help the sale go faster.

How Pricing Works 

Studies show that price accounts for 80% of the effectiveness of any real estate marketing campaign. That's why it's imperative to price your Maine home at fair market value right from the start. With this approach, you'll often find that the first offer on your home is frequently your best offer.

The figure below illustrates that only homes priced at market value (or below) appeal to the largest group of buyers. Over pricing your home shrinks the prospective buyer pool by more than 50 per cent. It further illustrates that a property priced just 15 per cent above the market value appealed to none of the qualified buyer pool.

Time on market can also significantly impact the value of your home. Your property will attract the most interest from buyers and real estate agents when it first appears on the market, with activity decreasing as the market time increases As the chart shows, the most opportune time to generate a sale on property is three to seven weeks after listing it with a real estate agent.