Price a loft too high and it will stay on the market a long time that can actually result in a lower price than had it been set properly in the beginning. Price a loft too low and part of the seller’s equity is not realized that could help the owner when buying another loft.
The amount of money that a seller needs to get out of a home is not an accurate reflection of the value.
Obstacles to Proper Pricing:
Incompetent agents who will accept a listing at any price
Neighbors who mislead the seller as to how much they got for their loft
Fear of making a mistake
Loss of perspective because the seller is emotionally involved
Need to realize a certain amount of cash out of the sale.
Overpricing:
Reduces sales associates activity
Reduces marketing response
Loses interested buyers.
Attracts the wrong prospects
Eliminates offers
Helps sell the competition
Extends the market time.
Don’t Get Caught Saying:
“Another agent said it was worth more”
“Our loft is nicer than those houses”
“People always offer less than asking”
“We can always come down on price”
“We have to get that much out of it”
“We paid more than that for our loft.”
Things that Don’t Affect Value
What you paid for the home
The cost to rebuild it today
Your investment in the improvements
Certain types of improvements.
REMEMBER:
The Seller sets the price of the home
but the Buyer determines the value. | 
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