Buyers nowadays have more choices than ever. MORE homes to look over. MORE options in how, when and where to buy that new home. MORE places to search for homes. MORE GOOD Realtors to assist them, as the market is weeding out the bad ones. More financing programs and homebuyer benefits popping up weekly (did you get $8000 FREE from the government when you bought your first home cause I didn't!) SO, what will it come down to to make YOUR home stand out of the crowd of more?
Many things honestly. But PRICE IS KEY. Always has been, always will be.
Here are the facts...Overpricing the home will:
Reduce Realtor activity. Professional Realtors see houses EVERY day. We know an overpriced home when we see one. I want my buyers to get the deal of the century, or at least the deal of the week!
Reduce advertising efforts and COST MONEY. Ever had someone hang up on you when you quote the price of a home to them? I have. Potential buyers look for certain types of homes in a price range. Today's buyers are SAVVY and well-read. Overprice and you might just be skipped over, or hung up on!
Lose interested buyers. Buyers pay for square footage. They will feel they should be getting more for the price you are asking.
Help the competition. A high-priced house makes the other houses look like a better deal.
Cause appraisal issues. Appraisals are based upon recent sales of properties just like yours.
Extends time on the market. Most of the time the price ends up lower than it needed to be if had been priced RIGHT to begin with.
Inconveniences YOU. I have a hard enough time getting my house clean for a get-together. I perish the thought of having to KEEP it clean everyday on the hopes of a showing. So don't. Price it right. Be done. Move on.
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