Price your home right & gain more buyers.
Many agents will list your house for sale at any price just to get your listing. They will ‘work you over’ for a price reduction later!
Studies have proven that this strategy is not only time consuming but nets you less money in the end. Buyers perceive the maximum value of a house when it is first put on the market. As time goes by, and a house does not sell, everyone wonders what is wrong or thinks that the house is overpriced. Studies of home sales confirm that this approach nets you less money.
When pricing your home for sale you should demand that your agent prove what the true market value of your home is because every house in today’s market must be sold twice – first to a buyer and then to the bank issuing the mortgage.
This second sale, the one to the mortgage company, may be more difficult than the first. The residential appraisal process has gotten tougher. A survey showed that there was a challenge with the appraisals on 24% of all residential real estate transactions making it more difficult to get the banks to agree on the contract price. No mortgage, no sale.
Get the facts about the price and the market.
Your asking price should generate the maximum demand for your home. That way, you will not be fighting with a buyer over the price, but instead you will have multiple buyers fighting with each other over the house.
Realtor.com recently gave this advice:
“Aim to price your property at or just slightly below the going rate. Today’s buyers are highly informed, so when they sense they’re getting a deal, they’re likely to bid up a property that’s slightly underpriced, especially in areas with low inventory.”