The Wrong Pricing Strategy Can Cost You Thousands, you probably know, the list price of your property largely affects how quickly it sells — and how much you will receive on the sale. What you may not be aware of is just how significant price is. Consider the following:
You price your property well above its current market value. As a result, many buyers don’t bother to see it because it’s outside of their price range. Those who do see it are confused by the high price. They may wonder, “What’s going on?” In this scenario, the home will likely sit on the market for weeks or even months. You might even have to lower the price dramatically to get interest going.
You price your property a little lower than market value to gain the interest of qualified buyers. That might not seem like much of a problem. How much can a little lower matter? On a $400,000 property, pricing your home just 2% lower than necessary could cost you $8,000 on the sale. That’s a serious amount of money! So, as you can see, pricing your home right is serious business. Fortunately, a good REALTOR® knows how to set the right price. Looking for a good REALTOR®? Call us today.