5 Reasons Why Pricing a Home For Sale is So Important for a Home Seller
Pricing is a very important aspect of selling a home. Ideally you want to peak interest straightaway. You don’t want to price it too high and yet you don’t want to leave money on the table.
5 Reasons Why Pricing a Home For Sale is so important for a Home Seller
Setting the right asking price for a home is one of the most important factors a homeowner can do when selling a home. It’s a bit like Goldilocks. Too high, too low, just right.
Price it too high and nobody will show it. If nobody shows it, how can the house sell?
Price it too low and most sellers think if they will be leaving money on the table. More often than not, the market will speak for itself- A lot of real estate agents will show the house to their buyers and the seller will end up with multiple offers, most over the asking price.
Reason # 1-
Pricing the home just right is a win-win. The seller only has to have showings for 5-7 days by quality agents with qualified buyers, and receives 1 to 3 offers at, near, or above asking price.
The first 2 weeks the home is on the market are the most important two weeks. Excitement, publicity, intrigue, competition – which translates into offers! A price reduction is like letting air out of a helium balloon.
Agents know what is a fair deal and that’s what they want for their buyers. Good agents show their buyers good value homes. Would you want to waste your time seeing a house that is priced $20,000 over the competition? No, and neither does an agent or buyer.
Wasted Time. If you over price your home, you will lose your own valuable time keeping the house picture perfect for the showings you hope you’ll get and you’ll be putting your own life on hold because you don’t know if or when you will receive an offer, if or when it will even sell, what price you will receive as the days on market turn into weeks on market or what your net proceeds will be from the sale.
Your high price will actually help sell that slightly less desirable house down the street to qualified buyers who probably would have bought your house in a heartbeat and closed in 30 days IF it had been properly priced.
So to recap, let the numbers be your guide, not your emotions when it comes to pricing your home for sale, and you will have a Goldilocks, happily ever-after ending!