We understand that selling your house for top dollar is important to you. Appropriate pricing is the key to getting top dollar! Let us share what overpricing can do to the eventual sale price you receive for your house.
Overpricing will diminish the excitement that a new listing generates.
Realtors are working with buyers who have seen what is currently on the market and are waiting for something new to be listed. Therefore, the most activity will take place in the first 30 days of a listing. Your house will probably receive its highest and best offers during this time. After this initial period, the only people who come to look at your house will be new buyers in the market place.
Overpricing will scare off the most qualified buyers.
Buyers will view only the properties that are priced within their purchasing power, knowing that they cannot afford anything above their price range. Overpricing helps sell other, more competitively priced houses first.
Overpricing will cause your house to be used to demonstrate the good value of other properties
Your objective should be to enter the market in a position that will attract prospective buyers, not drive them away. We can’t say this enough: overpricing helps sell other, more competitively priced homes first.
Overpricing will cause your house to become stale on the market.
Buyers may wonder why your house has been on the market for so long or if there is something 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 forfeit a strong negotiating position when your house is on the market a long time, both financially and mentally.
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 house correctly will make a tremendous difference in how fast it sells and for how much. We make it our business to know the market and to price our client’s house to sell for the most money in the least amount of time, and we are good at it. Just ask our past clients.
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