The Importance of Pricing your home correctly
Like anywhere in the world, pricing your home correctly can make a significant difference for how long is stays on the market. It’s always important to remember that motivation plays a key role in how you price your home. I see two different pricing strategies:
1) Sellers pricing at Market Value or below – This creates competition. These listings usually don’t last long on the market.
2) Sellers Pricing above Market Value – This strategy may create a longer listing period. You don’t want your home to sit on the market for too long because it will get “stale” and lose its WOW factor
It’s my personal opinion that one should list their home correctly from the beginning – its critical. Research shows that overpricing your home and then dropping the price several times while it languishes on the market usually leads to selling it at a much lower price than what you originally should have asked for it.
Often I see people choosing the real estate agent who suggests the highest listing price for your property. BEWARE. If you are in fact interviewing several real estate agents just keep the following in mind: It’s the agent who provides the best comparative market analysis and explanation who will be the most successful in selling your home……not the agent that tells you what you want to hear. The agent you choose should provide you with a list of comps of nearby homes that have sold in the past two or three months, as well as homes that are currently on the market and those that have been withdrawn because they couldn’t sell.
Call me today if you need a free CMA – I’m happy to assist you!