Based on various philosophies on pricing, sellers traditionally employ one of three strategies:
Aggressive Pricing Strategy:
Aggressive pricing is employed when a property is priced at or above the upper end of the reasonable and defensible price range of value (typically 15% or more above fair market value).
Event-Based Pricing Strategy:
Event pricing is utilized when a certain life event prompts a more immediate sale. This is not necessarily a wholesale pricing strategy; rather, this approach employs a price at the lower end of the reasonable and defensible range of value, which immediately garners attention from a large pool of buyers.
Fair Market Value Pricing Strategy:
Fair market value is the price that a property sells for on the open market between a willing buyer and willing seller with neither being required to acquiesce and both having knowledge of relevant facts.
