That can be tricky. After all, if you price your property too
low, you leave money on the table — perhaps thousands of dollars. On
the other hand, if you price your home too high, many buyers
won’t even
bother to see it, believing it is too expensive.
Even with that
reality, there are some sellers who contemplate setting a high listing price
in the hopes of a windfall. They want some unsuspecting buyer to fall in
love with the home and buy it — even though it’s overpriced.
That rarely,
if ever, happens.
Instead, the
listing often languishes on the market because its listing price is conspicuously
much higher than its market value.
Think about
it.
If two similar homes, side-by-side, are for sale, and one is priced $40,000
higher than the other, wouldn’t you wonder what was going on? That’s
exactly what the market thinks. “Why is that home priced so high?”
Of course,
many buyers, who might otherwise be interested in the property, won’t even
consider seeing it, simply because it’s outside their price range.
It gets worse.
When an overpriced home sits on the market with no offers for several
weeks, the price will often need to be adjusted down. That helps the situation
a little. However, you’ve lost the excitement created by a “new listing.”
Yours is now an old listing struggling to get attention.
There’s a
better way…
Setting your
list price at or near the market value is much more likely to generate
interest from qualified buyers and maximize how much you make on your home.
That market
value may even be higher than you think!
Interested in finding out how much? Call us anytime!
Richard Thyssen, Broker of Record
Colleen Thyssen, Sales Representative
Direct 519-495-1541
Email: richardthyssen@kw.com
