Calgary MLS Listing Price Important
When buying a house for sale in Calgary, every buyer looks at MLS Calgary listings. But how much weight does the MLS listing price really have on the final negotiated price? How much is a Calgary house worth? Often the listing price tells a lot about the property for sale. Market forces dictate what the selling price will be – they may go higher or lower than than the listing price, depending on the buyer's interest, and how many other comparable houses for sale there are.
A buyer isn't bound by the listing price tag. Nothing is really final until the Calgary house price is settled between the seller and buyer. This is the price that the buyer is willing to pay and the seller is willing to accept.
MLS Calgary Listing Price Strategies
During an active property market, a Calgary MLS listing may be low or underpriced by the seller. This could potentially attract more interested buyers because of supply and demand factors. As buyers compete to purchase the property, they bid the price up higher to what they are willing to pay and further reinforces a Calgary real estate sellers market.
When the property market is slow, sellers tend to set the MLS Calgary listing price moderately. This prevents buyers from being fearful of a high price, while preventing sellers from being tied up in case of only one offer. However, there are sellers who set the Calgary MLS listing price at the lower end, just to get several interested buyers. The more bidders, the more chance of the price to go higher.
Yet, there are sellers who look to price their home at the higher end of all the other comparable MLS Calgary listings. Some of them believe that starting with a high asking price will result in a higher final price. However, this usually never happens since the market always proves them wrong. Their property sits on the market for much longer than needed, resulting in buyers taking a pass on the home. As time passes, the seller adjusts the price to what the current market is but realizes that if the home was not overpriced to begin with, it might have sold much sooner. An overpriced MLS listing is usually dictated by the seller but can also be the result of an inexperienced Calgary real estate agent.
Calgary Buyers Know Best
When it comes to making an offer on a house, Calgary real estate buyers know what they are willing to pay, and the Calgary agent is there to help them in their decision. Some of the deciding factors include: the price of comparable Calgary houses recently sold in the same area; buyer's affordability level; actual Calgary real estate market conditions; physical condition of the house; aesthetic value of the home to the buyer; and the unique suitability of the Calgary home for sale to the buyer.
There's no hard and fast rule to figuring out the final price except knowing that buyers all have a bottom line of what they are willing to pay. This is the role market forces play.
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