Achieving the optimal price is the result of both objective research into comparable properties and a gut feeling about your property and the current market.
The simple fact is, price is the number one factor that most homebuyers use to determine which homes they want to view. And it's important to remember that, although the price is set by you, the value of the home is determined by the buyer. Try to avoid allowing your enthusiasm to impact your better judgment - overpricing is a common mistake that can cost you in the end.
What really matters is how your home stacks up against the others currently offered for sale and recently sold in your neighborhood. Buyers will be comparing.
Most of the activity on your home will occur in the first few weeks. Pricing a home properly and then creating immediate urgency in the minds of agents and buyers is critical.
Buyers who have seen most available homes in their price range are waiting for the "right house" to come on the market. That's why if a house is priced right, it will sell quickly. The buyers are there waiting for it.
Don't start with a high price and the assumption that you can reduce it later. By the time you decide to lower the price, it may be too late, as interest will have already waned.
A major cause for concern is appraisal problems; overpricing can lead to loan rejections and lost time.
Even if your home is nicer than other homes in the same area, your house won't be picked for viewing if you set the price too high.
Buyers and agents become aware of the long exposure period and often are hesitant to make an offer because they fear something is wrong with the property.
Attracting the wrong buyers.
Fewer potentially qualified buyers will respond.
You might help sell similar homes that are priced low.
You could lose money as a result of making extra mortgage payments while incurring taxes, insurance and unplanned maintenance costs.
An agent has NO control over the market, only the marketing plan. Never select an agent based on price.
If you're looking for a Real Estate Agent who can help you achieve your real estate goals while making the journey a fun and enjoyable one, Shari is the perfect choice for you! Contact Shari today!