The Results Of Over Pricing
Many sellers believe that if they price their home high initially, they can always lower it later. Often, however, when a home is priced high, it experiences little activity. Gradually the price comes down to market value because the seller runs out of time and the property sells for less than its worth.
Missing The Right Buyer
You may think that interested buyers "can always make an offer," but if the home is overpriced, potential buyers looking in a lower price range will never see it. Those who can afford a home at your asking price will soon recognize that they can get a better value elsewhere.
The Importance Of Early Activity
As soon as a home comes on the market there is a flurry of activity surrounding it. This is the crucial time when Sales Representatives and potential buyers sit up and take notice. If the home is overpriced, it doesn't take long for interested parties to lose interest. By the time the price drops, a majority of buyers are lost.
Pricing your property for an effective and efficient sale is the key starting point. When you decide to sell your property, you want to sell it for as much money as the market will allow. Pricing too high will keep your home from selling. A low price will keep you from receiving full value. Sufficient time and full exposure to the open market are equally important.
There are three main points to consider when pricing your property: