DON’T OVERPRICE YOUR HOME
- Buyers are aware of how long a property has been on the market. If a property takes a long time to sell, buyers usually attribute that to overpricing.
- Overpricing reduces the response to any merchandising done for the property, and will not produce results.
- Buyers look at prices on many comparable properties. If your property does not compare favorably, it won’t sell.
- Proper pricing will produce an early sale.
- Buyers avoid overpriced homes, and usually do not choose to look at them.
- If overpricing delays a sale, the cost and inconvenience could be prohibitive.
(Examples: Delay in job transfer, payment on two mortgages, wear and tear on your present property, loss of opportunity elsewhere, etc.)
- Top agents don’t show “old” listings.
- Two questions buyer prospects usually ask before viewing a property are:
“What’s the price?” | “How long has it been on the market?”
- The Internet makes it possible for prospective buyers to evaluate homes prior to looking at them and those that are “overpriced.”
- Properties that are reasonably priced create a sense of “urgency” in prospects’ minds.
Homes sell at fair market value. Pricing a home realistically will bring an early sale, fewer inconveniences, and a greater monetary return.