Why Should You Price Your Home Realistically?
Time: Chances are that your home will sell at its fair market value. Pricing it realistically from the beginning simply increases the likelihood for a timely sale with less inconveniences and greater monetary return.
Competition: Buyers educate themselves by viewing many homes. They know what a fair price is. If your home is not competitive in value with those houses that they have seen, it will not sell. Buyers typically look at homes within a $25,000 price range of their target budget. If your home is not priced within the correct range, it very likely will not be exposed to its potential or targeted buyers.
Reputation: 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 home. Often, homes that are on the market for a long period of time will eventually sell for less than their fair market value.
Inconvenience: If overpricing keeps your home from selling promptly, you can end up owning two homes—the one that you’ve already purchased and the one you’re trying to sell. This can prove costly and worrisome as well as inconvenient.
EIGHTY PERCENT OF THE MARKETING OF YOUR HOME IS DONE THE NIGHT WE DECIDE AT WHAT PRICE WE WILL LIST YOUR HOME.
If you are unwilling to list your home at, or just below, the current market value, you would be better served to NOT put it on the market.