How the marketplace works

Selling is a team effort. Your real estate professional is your marketing coordinator and is responsible for developing and implementing your home's marketing plan. As the seller, you control the home's condition and you set the price. However, it is the buyer who will actually determine the value of the home based on what he or she is willing to pay for it.

While we want to establish the highest possible market value for your home, it's critical not to underprice it. That's why we do a Home Market Analysis: To determine a market-value range for your home. And we'll discuss…

• How soon you need the property to sell
  
  
• Financing options that appeal to buyers
  
  
• Other factors that impact your home-sale goals.

Conversely, there are risks associated with overpricing your home out of the market:

• Makes competing homes look like better values than yours
  
  
• Reduces agent and buyer interest
  
  
• Can lead to mortgage rejections once the appraisal is in.

Remember, the value of your home is based on the buyer's perception of that value rather than the amount you originally paid for the house. GMAC Real Estate will use the Home Market Analysis to help you price your home more competitively. Our goal is to match the list price with your selling goals.