Do you want to sell your home quickly? Your approach to pricing can play a big role in how successful you are. Here are two mistakes sellers often make that can potentially slow a home sale to a crawl.
1. Pricing too high. Of course, you want to get the most for your property. However, pricing your home higher than its market value can work against you. Most buyers are well aware of current market values, so it’s unlikely that some unsuspecting buyer will pay a premium. Plus, if you set the list price too high, you might discourage many qualified buyers from seeing it.
2. Pricing too low. Pricing your home at an attractive price that’s below market value can be a smart strategy in some markets. But, there are many factors to consider before taking that approach.
One danger is that buyers will see the low price as an indication that something is wrong with the property. There’s also a risk (especially in a balanced or buyers market) that you’ll receive only low offers. You can turn those down, of course, but your home will end up being on the market longer than you might have expected.
As you can see, setting your list price strategically is key to ensuring your home sells promptly. So, get the advice you need and then price accordingly.
