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Why Pricing Your Home Correctly is Essential This Fall

November 11,2020 | Posted By Gary Macrides in Selling
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As a seller in today’s market, you may think that pricing your home on the high end of the neighborhood comps will result in more money on your overall sale—but the opposite is actually true! Research has shown that homes priced too high from the start are often overlooked by buyers who think the higher-end numbers are out of their price range. Pricing your home competitively actually maximizes your pool of potential buyers, and may even lead to a bidding war—which can ultimately drive up the final sale price. Prices that are too high may also cause homes to sit on the market and lead to price drops, which buyers oftentimes view as unfavorable.

On the other hand, pricing a property too low has its own problems: most importantly, it deters prospective buyers because they perceive something to be wrong with the home. Also, a house that is priced too low inherently represents decreased buying power and lost value.

Ultimately, the bottom line is that the best way to ensure your home is priced competitively at its true value from the outset is to work with a trusted, knowledgeable Realtor who has insight into your market’s current trends. Contact me today and allow my 20+ years experience and knowhow guide you through the process of selling your home for top dollar.

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