What Is The "Real Estate Market" Anyways?
One of the most important things to know about the real estate market is that it's a free and open market. Anyone can offer any piece of property they own for sale any price they want anytime they want. Buyers are free to choose from all the available options and negotiate a transaction. All open markets work this way: the stock exchange, all retail sales, even your local farmers market.
In an open market - the seller determines the asking price - but the buyer determines the selling price. As a seller, you are competing against all other homes on the market to attract the available buyers.
Your asking prices as actually just your "marketing price" designed to bring interests to your home.
Just like the stock market and farmers market - products with high asking prices will be overlooked - and eventually, be sold at a discount or taken off the market.
Products that appear to be a great deal sell quickly with little negotiation.
The fantastic thing about the real estate market is when more than one person wants your home. Demand from multiple buyers turns your sale into an auction - this flips the market on its head. Now the buyers compete for the house.
Our team of experienced, local Realtors are trained to provide you with the most accurate pricing research and strategy available. We can show you the actual market value of your home and ALSO the best asking price to get it sold.
If you're considering selling your property, your next step to have a brief call about your specific situation.