What happens if you overprice your home?
Longer time on the market:
Your home’s initial listing period is important because that’s when websites prioritize views on your home. Overpricing can exclude qualified buyers who are looking online.
Wasted time and resources:
Staging… making repairs… cleaning… and other projects can end up being ineffective if no serious buyer is interested due to price.
Appraisal issues:
Even if a buyer agrees to an inflated price, an appraisal may not support that value which could disrupt the sale due to financing.
Uncertainty:
Sometimes, if a property stays on the market too long, potential buyers may begin to think something is wrong with it.
The Result:
If you run into any of these problems, there’s a chance that you may end up having to sell your home below market value.
So then what?
Work with a local realtor who has a pulse on your market before pricing your home.
If you have questions about pricing strategies, send me a message. I’d love to formulate your winning solution! Schedule your strategy call today.
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