When you’re selling your home, there are many factors to determine what the asking price of your home should be. If your home is not priced correctly, it could work against you in the selling process. When you list your home for sale, make sure your agent considers factors like where your home is located, square footage, the condition of the home, and amenities. Resort Realty agents will give you trusted advice about a realistic asking price that will get your home sold at the right price.
Improper pricing poses dangers like:
Developing a “stigma” – buyers will begin to ask “what’s wrong with the home” if it’s underpriced or if it stays on the market too long
Reduces advertising results – over pricing reduces the response to any merchandising done for the property and will not produce results
Loss of interested buyers – buyers often work with real estate agents and a good agent can spot an overpriced home quickly
Eliminates offers – many homes that are overpriced never receive offers, even though the homeowner was willing to accept less
Helps the competition – by overpricing your home, you help sell your neighbor’s house by showing the buyers what a great value their home is
The bottom line is, homes sell at fair market value. Pricing a home realistically at the beginning will bring fewer inconveniences, several offers, an early sale, and a greater monetary return. It’s far better to price your home right from the beginning-creating high interest and demand where buyers are chasing you-versus you chasing the market and searching for the interest and demand.