The fact of the matter is that your home will sell at its market value. The best chance to sell your property is within the first seven weeks, and pricing it realistically increases the chance of a timely sale.
Here are some important facts to consider:
- To reach maximum exposure the price must be competitive with similar properties.
- A buyer will typically look in their pre-determined price range. Pricing your home too high will only hurt your chances of exposure to qualified buyers.
- If your plan is to adjust your price at the time of sale, know that you are not putting yourself in a favorable position. If you adjust your price now, your chances of attracting serious buyers will only grow.
- Receiving a reasonable offer on an overpriced property is unlikely. The buyer will most often make an offer that is very low, if an offer is made at all.
- Do not think that you will receive more for the property by asking more. Chances are that you will be offered much less as the exposure to it will be less.
- By pricing your home reasonably, your invite the possibility of receiving multiple offers, as more buyers will see it.
Why Sellers Want to Overprice:
- Seller has over-improved the property
- Seller paid too much for the home
- Seller hopes to buy a higher-priced home
- Seller needs money
- Seller just wants to play the market
- The neighbors who sold in the past got a higher price
The Results of Overpricing:
- The property will be marketed to the wrong prospective buyers
- Helps your competition sell their homes
- Will increase the marketing time and decrease the possibility of selling
- If you do receive an offer, having it priced too high may cause problems with the appraisal
Price your home correctly the first time for the best chance of a fast home sale.
If you don’t have a real estate agent, but are looking to sell, let a member of The Home Team NC know. We’d love to work with you!