Here are a few points to consider when deciding on how to strategically price your home. Most sellers have a price in mind, but so do their Realtors as well as buyers and their Realtors. Pricing comes down to these factors:
- Your property is worth what a buyer is willing to pay, not what a seller paid or the amount of money the seller has put into it.
- An accurately priced home sells faster and at a higher price.
- If you underprice your home, you will sell quickly and likely have competing offers. But you will also end up leaving money on the table.
- An overpriced home has fewer showings, receives lower offers, takes longer to sell and actually contributes to the sale of other homes.
- By the time an overpriced house is reduced to the market value, it may be too "shop worn" for buyers to offer full price. Have you ever asked how long a home has been on the market? What conclusion did you draw?
If time is of the essence, you will have to price correctly at the outset. If time is not an issue, you may be listing your home in a time of the year (a Spring market) where you and your Realtor can afford to play the odds a bit.
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