For many home sellers, pricing their home is one of the biggest challenges. Some sellers want to price their home higher than their REALTOR® recommends, feeling they can always lower the price later. This is a mistake – and here’s why…
Correctly pricing a home often determines whether the home will be sold quickly or remain on the market for an extended period. Your property will receive the most attention during its first days as a new listing – and because of technology, today’s home buyers are very knowledgeable, with little patience for making offers on overpriced properties.
Most buyers use the Internet to search for homes, where information about days on the market and price reductions are readily available. Buyers can easily research comparable homes in your area and find out what other homes have recently sold for.
Today’s buyers are very value driven – and the longer a home sits on the market the less valuable it becomes in the minds of buyers.
So, when it comes to pricing… be realistic… and price your home in line with what similar properties have sold for in your neighborhood.
