THE ADVANTAGES OF SETTING THE RIGHT PRICE.
Pricing it realistically at the outset simply increases the likelihood for a timely sale;
- With less inconveniences AND
- Greater monetary return/ higher price AND
- The property is actually worth MOST on day one AND
- A relationship between time and sales price is a well know fact in the vast majority of real estate sales…
- The clock is ticking!
WHY???– Everyone knows what the first question EVERY buyer asks.
ANSWER: “How long has it been on the market?”
- (It is hard to argue with the logic that if it were priced right, it would have sold by now).
Buyers educate themselves by viewing many homes.
- They know the market.
- Have probable seen all competing properties.
- May have made an offer or two on others already.
- They will choose based on which property suits them best & which they perceive as the best VALUE.
The Buyers know what a fair price is.
- If your home is not competitive in value with those they have seen, it will not sell.
- Buyers typically look at homes within a 3-7% price range.
- If your home is not priced within the correct range
- It very likely will not be exposed to its potential or targeted buyers.
- Then ultimately sell FAR BELOW where it should.
Overpricing causes most homes to remain on the market far too long. This causes sellers to usually achieve a sales price FAR BELOW what may have been achieved.
- Buyers, aware of a long exposure period, are often hesitant to make an offer because they fear “something is wrong” with the house.
- Often homes that are on the market for a long time eventually sell for less than their fair market value.
- Certainly when offers do come, they are usually always low.
4. INCONVENIENCE/ STRESS:
If overpricing keeps your home from selling promptly;
- You can end up owning two homes – the one you’ve already purchased and the one you’re trying to sell.
- This can prove costly and worrisome
- As well as inconvenient.
- Aiming too high early may ultimately backfire in our efforts to get you the highest actual sales price.
Please feel free to discuss this in detail and let me show you how to get the highest maximum NETT proceeds.
As always, please feel free to give me a call if I can assist with any real estate matters.