Price it Right or Pay the Price Later
For many homeowners thinking of selling their home, the first impulse is to price it high. The thought is someone can just make an offer or we can just try.... Or the last reason is you just don't want to accept the reality of what your house is really worth.
When you do this as a seller you are hurting yourself. Houses that are overpriced don't get offers. Most buyers need to get emotionally involved for them to want to submit an offer. If what they think the house is worth is much more then 5% off the listing price, they don't want to waste their time on a deal they don't think they can put together.
So pricing is ultra critical when selling a home. Being overpriced by 3-5% can really put a damper on your home sale. Over 5% and you have a long haul ahead of you. You are looking at tons of showings, longer then average marketing times and most likely several price reductions. Ultimately selling your house for less then what it is truly worth.
While pricing a home is not an exact science there is historical data that is used. In this article there is a sample and it really lines up quite nicely. Get the price right based on data and not emotion and it will save you time money and aggravationHome Selling Tip
This is something that all agents know and few sellers want to believe. It is almost impossible to under price a house that is presented properly by the agent. The buyers know when they see a good deal. So many houses are overpriced one that is priced properly or slightly under gets the attention. This is when multiple offers come in to play. When you have competition among home buyers guess what happens? You get more money for your house! #homesellertips #realestate #homepricing