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Competitively pricing your home
When you think about selling your home it is tempting to overprice it. But a distorted asking price soon leads to a shopworn reputation putting off buyers and interfering with future pricing. Here’s why I recommend a competitive asking price for your home from the start:
- Pricing makes your home visible to buyers. Buyers and buyer agents search for homes first by price range, then for the most competitive asking prices.
- Priced right during the peak of buyer interest. Homes attract the most buyers when they first hit the market. To start with a high asking price with a plan to drop the price when no offers are received means you missed the best opportunity for offers at the highest sales price.
- The right asking price sidesteps stale property status. A home that doesn’t sell right away gains the reputation something is wrong with the property. Buyers assume the longer a home sits on the market the more likely the property, the owner, or the agent has a problem. As time moves on, buyers willing to make an offer become ever more aggressive.
- Early proper pricing eliminates never-ending staging. Longer marketing time means more showing appointments, additional sales costs, and maintaining “showing conditions” for your home over a longer period of time.
- Don’t help the competition. Comparable homes to yours available at lower asking prices are just plain more attractive to potential buyers.
- A smooth loan process, not a fallout. Even when a buyer agrees to pay an above market price, the appraisal required by the buyer’s lender may come in short, leading to a cancelled sale.
For more information on how to beat out competing sellers and maximize results from your asking price, call me today!
