🏷️ What Is Asking Price in Real Estate?
The asking price—also known as the list price—is the amount a seller advertises when putting a home on the market. It represents the seller’s desired price, not necessarily the final sale price.
How the Asking Price Works
The asking price serves as a starting point for negotiations between the buyer and seller. It’s typically based on recent comparable sales, market demand, and property condition. A well-priced home attracts more buyers and can even create multiple-offer situations.
- Set after evaluating the home’s market value.
- May differ from the final sale price after negotiations.
- Often adjusted based on feedback and market conditions.
Why Asking Price Matters for FSBO Sellers
For For Sale By Owner (FSBO) sellers, setting the right asking price is essential for attracting qualified buyers. An overpriced home risks sitting unsold, while underpricing can lead to lost equity.
Tools like a Comparative Market Analysis (CMA) help estimate the best asking price before listing on the MLS.
How to Set the Right Asking Price
- Review local MLS comparables.
- Consider your home’s features, upgrades, and condition.
- Use online valuation tools as a baseline.
- Work with a flat fee MLS service like Brokerless for exposure and guidance.
Learn more in our full guide: How to Price Your Home to Sell.
Frequently Asked Questions About Asking Price
Is the asking price the same as the selling price?
No. The asking price is what the seller lists the property for, while the selling price is what the buyer ultimately pays after negotiation.
Can the asking price be changed?
Yes. Sellers often adjust the asking price if the property receives little interest or if market conditions shift.
How do I determine my asking price when selling FSBO?
Compare similar listings in your area, review recent MLS sales, and use tools like a Comparative Market Analysis to estimate a competitive price.