Many agents agree to list the house at a price that is slightly higher than the price it is expected to sell.
This allows room for negotiation. Most buyers want to get the feeling they negotiated on the price and got a good deal.
But in reality if you price slightly below market you may get multiple offers, and sometimes more than your asking price.
You should be careful if you ask a price that is unrealistically high. A couple of years ago it was not much of a problem. That is one of the reasons of the current slowdown.
These days the banks are more careful when they agree to give a mortgage.
The appraisers are cautious.
Recently I have heard of homes not appraising. The buyer agrees for the price and then the home is off the market. A few weeks later the buyer finds out that the home did not appraise. Then you may have to renegotiate the price. If you had counted on receiving that amount and made plans accordingly it may cause stress.
The buyer sometimes may not want to renegotiate. Please take this into consideration and discuss it with your Real Estate Agent .
Remember the agent is not going to buy your house. Some agents may agree to list at any price to get the listing. There are two other people who will determine the price :
The buyer and the Appraiser.
When you read about events please check the year for the event as some people find information a year later and think it is for that year. . The posts remain online even after the event.
Gita Bantwal is a Realtor with RE/MAX Centre Realtors in Bucks County, a Northern suburb of Philadelphia. You can view 1000s of listings on her web site www.GitaBantwal.com
She can be reached at 215-343-8200x124 or direct 215-275-8491 or via email firstname.lastname@example.org
If you would like a FREE MARKET EVALUATION OF YOUR HOME IN PHILADELPHIA, BUCKS or MONTGOMERY COUNTY call me at 2152758491
Gita specializes in Active adult communities and is a Seniors Real Estate Specialist. She holds the ABR designation (Accredited Buyers Representative) and specializes in selling to first time buyers as well as move up buyers.Gita also hold the CRS designation , Certified Residential Specialist and the CDPE designation as well. Information about real estate market is deemed to be correct but is subject to errors and omissions and should be verified independently.. Opinion expressed by me or others in my post and comments is not to be construed to be legal advice.I am licensed in Pa. Check real estate laws in your state as they may be different than in Pa.