The Dangers of Over Pricing Your Home

What are the dangers of over pricing your home?

Have you ever heard someone say “we’ll start at this higher price and if no one bites, we can always come down?”

Pricing is a critical component when selling your real estate and making sure you are competitive will help you sell sooner, rather than later.   

1. All too often when a home goes on the market the best buyer traffic is within the first 30 days.  By pricing a property over the market, you may very well be missing your best buyers. 

2. If your neighbors are selling their homes at a more competitive price, you might be helping them gain your buyer.  Agents and buyers may be attracted to the lower price and say “Wow, I can get a similar home for less money right down the street”. 

3. Even if you find a buyer at the higher price, you may likely risk either losing the sale or forcing a price reduction with a low appraisal. 

As a professional Realtor, I can tell you from experience, when a property sits on the market too long, buyers might feel they can make a lower offer.  Buyers want to know “what’s the price and how long has it been on the market? “

In the pricing process it’s critical to ask yourself, what’s the holding cost for this home, how quickly do we want to move and what’s the market value. 

Call me for a professional market analysis of your real estate.   Pricing is critical.  Let’s make sure you’re getting the most for your investment and also meet your selling time expectations.