As you’re probably aware, the list price you set for your property has an impact on how quickly it sells – and how much you earn on the sale.
What you may not realize is just how significant an impact it has. Consider the following examples:
Example One:
You want as much as you can get from your house, so you price your property well above it’s current market value thinking there’s room to negotiate. 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 tag. They may wonder ‘What’s going on?’
In this scenario, the home will likely languish on the market for weeks or even months. You might even have to lower the price dramatically to reignite interest.
Example Two:
You price your property just a couple of percentage points lower than what is necessary to gain the interest of qualified buyers. That might not seem like much of a problem. How much can a couple of percentage points matter?
They matter a lot.
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® know how to set the right price.
Looking for a good REALTOR®? Call Beth today!