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Selling Real Estate Step 5: Research Market Price.

More science than art, there is Market Price, List Price, and Sold Price. A List Price within 10% of Market Price gets the attention of serious buyers and, depending on how hot the market is, should draw an Offer within four weeks. An Asking Price within 0-5% of Market Price is most likely to draw a full-price offer within two weeks. Pricing your home higher than 10% of Market Price signals that either you don’t know what your home is worth or that you aren’t serious about selling. If it’s the first, then eventually the professional investors will circle your listing like sharks, waiting until they smell desperation. In this scenario, your Sold Price ends up being much less than Market Price.