SELLERS: DON’T LEAVE MONEY ON THE TABLE.
If you’re like most sellers, your hope is to sell your home for the highest possible price… because who wants to leave money on the table?
Pricing your home correctly is the single most important factor to consider when you’re selling your home, and in this market, the worst thing that you can do is price your home too high and run the risk of deterring buyers.
There’s nothing wrong with listing your home on the high side of market value, however, overpricing your home so that there is “room to negotiate” or to “just see what happens” can backfire badly.
The more you overprice your home, the fewer buyers will come to see it. Today’s buyers are educated and have all the data in their hands with the internet. They know what comparable homes are selling for and if a home is overpriced.
Very few buyers will even make an offer on an overpriced home — they will wait for the price to drop, sometimes before they even schedule a showing.
Your property attracts the most interest when it is first listed, and the majority of showings on a home occur in the first 14 days of the listing hitting the market.
After your house has been on the market for several weeks or months, buyers will notice the number of days on the market and may assume there is something wrong with your home.
In the end, you will likely end up making less money by overpricing your home, than you would have if you priced it correctly from the start.
If you are considering selling, send me a message! I would be happy to give you a free home assessment to show what your home may be worth in today’s market.