One of the most important decisions you will make is determining the right asking price for your property in the current market conditions. I will work with you in choosing the right asking price.
The Benefits of Pricing Right:
- your home sells faster, because it is exposed to buyers in the right price range;
- buyers’ agents will be enthusiastic about presenting your property to buyers; and
- a well-priced property can generate competing offers.
The Results of Overpricing
Many sellers believe that if they price their home high initially, they can lower it later. This strategy, however, usually has disappointing results.
Often, when a home is priced too high, buyers in that price range find other homes that are superior; buyers in the lower (more appropriate) price range may never even see the home at all. By the time the seller realizes what is happening and drops the price, the majority of the buyers are lost because by that time, most buyers will be wary and will either reject the property entirely or will only be willing to submit a low offer.
Up Next: Part 2. The Importance of Early Activity