Overpricing Can Be Costly

You will lose the excitement of a new listing. The most activity will take place in the first two weeks of a listing. Your home will probably receive its highest and best offers during this time. If we do not get an offer within this time frame then the wrong price range was chosen.

You will lose the most qualified prospects. Buyers won’t be able to make an offer because they probably won’t see your property. They wil view the properties that are priced within their purchase power range, knowing that they cannot afford anything about their price range. Once a buyer has seen the house and ruled it out they rarely check back to see if you have lowed the price. By then, they have probably made an offer on another home.

Overpricing helps sell other, well priced homes first. Your home may be used to demonstrate the good value of other properties. Your objective should be to enter the market in a position that will attract prospects, not drive them away.

Your home may become stale on the market. Prospects may wonder why it has been on the market so long, or if something is wrong with the property, even after you lower the price. You may even have to settle for less than market value. A house takes on a reputation surprisingly fast, so don’t wear out your welcome on the market.

You lose a strong negotiating position. Prospects will not rush to make an offer on an overpriced property, and you may feel compelled to accept less when they finally do.

As you can see, pricing your home correctly will make a tremendous difference in how quickly it sells and for how much. I make it my business to know the market and price my client’s homes to sell for the most money in the least amount of time.

Let’s work together so we can get you the highest possible price!