When it’s time to put your home on the market leave behind unreasonable expectations and don’t make the mistake that most sellers make. That mistake is selecting the highest list price for their home. Sellers become emotionally involved in their home and ignore the facts. Facts that are available to them and facts that are available to the buyers. The truth is it doesn’t matter how much money you think your home is worth. The only person whose opinion matters is the buyer. Their offer will be made on facts not emotions.
Pricing homes to sell is a science. And requires a highly skilled agent. It involves comparing similar properties, making adjustments for the differences among them, tracking market movements and taking stock of present inventory, all of these facts must be carefully calculated to establish a range of value, an opinion based strictly on facts not on a desire to secure a listing from a home owner that will be excited by a high listing price.
The fact is that homes sell at a price a buyer is willing to pay and a seller is willing to accept. If a home is priced too low, priced under the competition, the seller will quickly receive multiple offers which will drive up the price. So there is little danger in pricing a home too low. The danger lies in pricing it too high especially in a declining market.
Don’t make the mistake of overpricing your home. Price your home to sell not to expire. Expired listings cost sellers much more than extra mortgage payments and extra property taxes. A home on the market a long time is stale, dated, market-worn and buyers shy away from these properties. Add to that a declining market and pricing your home to expire can potentially cost you thousands.
Homes put on the market with a competitive price sell quickly and sell for top dollar. Many sellers turn down their first offer if it comes to them within the first few weeks of the house being on the market. However the facts show that the first offer is most likely going to be the highest offer the seller will receive.
When it’s time to put your home on the market don’t make the worst home selling mistake.