How Pricing Your Home Right Makes a Big Difference
Even though there’s a big buyer demand for homes in today’s low inventory market, it doesn’t mean you should price your home as high as the sky when you’re ready to sell. Here’s why making sure you price it right is key to driving the best price for the sale.If you’ve ever watched the show “The Price Is Right,” you know the only way to win the game is to be the one to correctly guess the price of the item up for bid without going over. That means your guess must be just slightly under the retail price.When it comes to pricing your home, setting it at or slightly below market value will increase the visibility of your listing and drive more buyers your way. This strategy actually increases the number of buyers who will see your home in their search process. Why? When potential buyers look at your listing and see a great price for a fantastic home, they’re probably going to want to take a closer look. This means more buyers are going to be excited about your house and more apt to make an offer. When this happens, you’re more likely to set up a scenario with multiple offers, potential bidding wars, and the ability to demand a higher final sale price. At the end of the day, even when inventory is tight, pricing your home right – or "pricing it to sell immediately" – makes all difference in the world. Here’s the other big thing: homeowners who make the mistake of overpricing their homes will eventually have to lower the prices anyway after the home has sat on the market for an unnecessary extended period of time. This will leave buyers wondering if the price drops were actually caused by something being wrong with the home when in reality, nothing was wrong at all, except the initial listing price was simply too high. Bottom Line Thinking about selling your home this year? Let’s discuss your goals together and allow me to show you why having a professional on your side to help you properly price your home will maximize your ROI with the highest demand for your home right from the start.