3. Setting an Asking Price

1. Repeat

A: How much do you think that I should ask for my house?

B: Well, there are a lot of factors involved in setting an asking price.

A: What do you look at when setting an asking price?

B: We need to look at the selling prices for similar homes in the area. These will vary according to the condition of the home, specific location, and lot size.

A: Do I have to use the comparisons as the asking price for my house?

B: No, but a seller is not going to be able to get a loan if the selling price is a lot higher that what an appraiser feels the home is worth.

A: Isn't it better to price my house really high and see what I can get?

B: You shouldn't set the price of the house unrealistically high. Oftentimes buyers are put off by this practice.

A: Can I change my mind and lower my price if the home doesn't sell?

B: Sure, you can always lower your asking price.


2. Repeat


A: I am not sure what the asking price for my house should be.

B: We have to take in a number of factors in setting an asking price.

A: What do we need to consider in establishing an acceptable price for a home?

B: The comparisons to other similar homes in your area give us a good indication of what your home is worth.

A: Is the price that we get by looking at comparisons necessarily the asking price that I have to use for my home?

B: You don't have to use that particular asking price, but the buyer is going to have trouble getting a loan if the house is priced too high.

A: Should I just shoot for the moon and, if I have to lower the price, do it later?

B: You should be realistic in your pricing. Otherwise, many potential buyers just walk away.

A: Can we lower the asking price later if we need to?

B: We can always re-evaluate the asking price in a few weeks, if we aren't getting any offers.


3. Repeat


A: What do you think the asking price of my home should be?

B: There are many things to take into consideration when pricing a home.

A: What is involved in figuring out an asking price?

B: We need to combine many factors regarding your home to come up with an accurate value for your home.

A: When you look at comparisons, do I necessarily have to ask that price?

B: You don't have to use the price from the comparisons as your asking price. However, you must be realistic in what you ask.

A: I think that I am going to set the price really high so that I have room to bargain with the buyers.

B: Don't go overboard in trying to get top dollar. More often than not, that strategy backfires.

A: Is it okay to lower the asking price if the first price isn't bringing in any offers?

B: If the market doesn't support your asking price, we can always re-evaluate our pricing and adjust it.


Practice the Conversations of This Topic with Mike

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