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No matter what is happening in the local market, sellers have the same question:


How much can I sell my home for?


Sellers want top dollar when selling - and we want that for you too! But, it’s important to be strategic about the listing price of your home. Keep reading to learn why! 


List Price vs. Sales Price


First, let’s discuss the difference between listing price and sales price. The list price is what the property is put on the market for. Sales price is the final amount the house sells for at closing. This price is agreed upon by both the seller and the buyer before closing. 


The two prices do not always match: the sales price may be lower or higher than the listing price, depending on the transaction. In addition, the sales price can be negotiated after the inspection and appraisal process. 


Why List Price Matters


Knowing that the listing price doesn’t always equate to the sales price, sellers often come up with different strategies for pricing their home. 


Some sellers want to list their homes for a higher price than it is worth, assuming buyers will offer a lower number. Others have the belief that if they price their property lower than market value it will create a bidding war, driving the price up. 


List price matters because, when properly priced, it makes your property visible to the right buyers. If it is priced too high, it may be out of the budget for suitable buyers, and chances are, they won’t bother to look at it more closely. This means it may sit on the market longer. 


If priced under market value, you can also deter potential buyers. When active buyers see a price that looks too good to be true, they often think something is wrong with the property. 


How to Determine Your List Price


Your real estate agent will meet with you, tour your property, and share comparable sales (comps) in your local market. From this information, your agent will review the range your home is likely to sell for in the current market. When you feel confident about the number, it’s time to take action to put it on the market!


Are you interested in learning the current value of your home?