Ready to sell, but confused about pricing? No matter what you hear elsewhere, pay close attention to any advice that a real estate professional offers. Remember that the agent doesn’t set the price – you do. Make sure you understand all the facts before making your decision.
Would you think that a home that sells in just a few days was probably underpriced? You’d be wrong – obviously, the home was perfectly priced! If the sellers – and the buyers – did their homework, they probably found out exactly what other homes in the area listed for, sold for, and didn’t sell for. Homes priced at “fair market value” stand a great chance for an early sale.
If you begin by asking for more than the home is worth, you’ll be cheating yourself out of consideration by serious, qualified buyers who know better. You’ll get less interest, less offers, lower offers, or even worse – you could accept an offer that will be later withdrawn when the lender discovers that the appraised value came in lower than the asking price.
The real proof that a quick sale wasn’t priced too low is the homes in the neighborhood that haven’t sold yet or have “expired.” Ask the agent for those prices and then you’ll understand how pricing correctly from the get-go results in a full price sale in the shortest time.