Don't Overprice a House in a Soft Market

Real Estate Agent with Melody Russell Team at eXp Realty of California, Inc. 01468388

Reblogging this timely post from R. Michael "Mike" Brown out of West Palm Beach Florida.    Mike runs a digital marketing and public relations firm offering services including communications strategies for real estate agents.     

Original content by R. Michael Brown

By Dawn Pfaff, Go Home TV Host & President of My State MLS

It's still a sellers market but it's starting to soften. Here are some tips on what to do to get the maximum price to sell a house.

It's a changing market. Things are happening here. And are you still pricing the houses at or above where you think because you think you're going to get into one of these bidding wars and it's going to get beat up and up and up. Well, let me tell you, a lot of people are pricing the houses wrong right now when we're in a market that softens.

And I'm not saying this market is popping. I'm not saying it's crashing. We don't know that yet. We do know it is going to be a little softer than before. So here's some advice on how to price a listing. And if you're thinking about selling your home, how you should price that home.

Look at what's sold recently because what's sold recently really went into contract about two or three months ago.

What you should do is price your home just a little bit under where things have sold in the past 1 to 3 months. The reason you want to do that is because you want to make a lot of people coming to look at the listing. You want to get action, you want bids, you want to get it bid up!

And the best way to do that is to price it lower and get a lot of interest in that listing. It's so much better than pricing it high and trying to negotiate down to a lowball price. Don't overprice yourself in this market to get a fast sale. You're going to want to price yourself a little bit under where you think you want to be so you get tons of interest.

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Comments (1)

Sham Reddy CRS
H E R Realty, Dayton, OH - Dayton, OH

Thanks for sharing & re-sharing MC and Michael.

Look at what's sold recently because what's sold recently really went into contract about two or three months ago.

Jun 25, 2022 05:09 PM