The price a home sells for is usually very different from what it was originally listed at, and today I’ll tell you why.
On both sides of the real estate transaction, we’re commonly asked, “What’s the difference between a list price and a sales price?”
First of all, a list price and sales price are vastly different things. You wouldn’t believe how many times I’ve been on a listing presentation where the seller has tried to convince me that their home is worth a certain amount because of what other homes are listed at. There’s only one problem: Those homes haven’t sold yet, and some of them have been on the market for months or even years.
The sales price is the price at which a home ultimately sells. A listing price, on the other hand, is the price at which the seller markets their home. Say you listed your home at $250,000 and then sold it at $240,000—your listing price is the former and your sales price is the latter.
It’s all pretty straightforward, but in some situations, there are certain terms that don’t get discussed. For instance, your neighbor could have sold their $1 million property for $900,000, but this doesn’t tell you anything about what they may have offered the buyer that wasn’t actually spelled out in the sales agreement.
Really, anything can be negotiated into the contract—the buyer’s closing costs, the motorcycle in the garage, and so on. That’s why, a lot of times, an appraiser will call us after the sale to determine if any other items were part of the real estate package.
If you’d like to have some information about setting your home’s list price or if you’d like our assistance in achieving the best final sales price, please don’t hesitate to reach out to your Omaha’s Elite agent today. We look forward to hearing from you!