Selling Process Expectations Marketing Your Property Market Value Getting Ready to Sell           Understanding Market Value! Market-sensitive pricing can be the key to maximum market exposure and, ultimately, a satisfactory sale. The existing pool of prospective buyers determines a property’s value based on: Location, design, amenities and condition. Availability of comparable (competing) properties. Economic conditions that affect real property transactions. Factors that have little or no influence on the market value of a house include: The price the seller originally paid for the property. The seller’s expected net proceeds. The amount spent on improvements. The impact of accurate pricing: Properties priced within market range generate more showings and offers, and sell in a shorter period of time. Properties priced too high have a difficult time selling. The Dangers of Overpricing An asking price that is beyond market range can adversely affect the marketing of a property. Fewer buyers are attracted, and fewer offers received. Marketing time is prolonged, and initial marketing momentum is lost. The property attracts "lookers" and helps competing houses look better by comparison.  If a property does sell above true market value, it may not appraise,and the buyers may not be able to secure a loan.  The property may eventually sellbelow market value.