Chances are that your home will sell at its fair market value. Pricing it realistically at the outset simply increases the likelihood for a timely sale with less inconveniences and greater monetary return.
Buyers educate themselves by viewing many homes. They know what is a fair price. If your home is not competitive in value with those they have seen, it will not sell. Buyers typically look at homes within a $50,000 price range. If your home is not priced within the correct range, it is very likely that it will not be exposed to its potential or targeted buyers.
Overpricing causes most homes to remain on the market too long. Buyers, aware of a long exposure period, are often hesitant to make an offer because they fear “something is wrong” with the house. Often homes on the market for a long time eventually sell for less than their fair market value.
If overpricing keeps your home from selling promptly, you can end up owning two homes—the one you’ve already purchased and the one you’re trying to sell. This can prove costly and worrisome, as well as inconvenient.
80% of the marketing of your home is done the night we decide at what price we list your home.
If you are unwilling to list your home at, or just below the current market value, you are better served to not put it on the market at all.
Broker Associate, MBA
CDPE, SRES, QSC
Vista Sotheby’s International Realty2501 N. Sepulveda Blvd, 2nd Floor
5-star Rated Agent