Pricing to Sell!
"Let's justÂ tryÂ it at this price..."
"IÂ need roomÂ to negotiate..."
"But my house isÂ better..."
"I'mÂ not in a hurry, so let's price it higher..."
Every Realtor has heard all the reasons in the world why a seller would want to list their home for more money than theÂ current market value. Â The thought process is that if you list for higher, you'll end up getting more money, and that's what every seller wants, right?
But nothing could be further from the truth.
Remember, your home is aÂ commodity, NOT a product, and as such, it will trade where the market is trading (like a stock). So by pricing your home above where the market for homes like yours is trading, you will, in effect, help sell the OTHER homes that are like yours, because those will look like more of a value -- and home selling is all aboutÂ creating the perception of value.
The chart below illustrates how homes that are pricedÂ RIGHTÂ - without the "padding" or the "trial time" -Â sell faster and for MORE moneyÂ than those that are overpriced:
So, you can see, that pricing your home aggressively will, in the end, get your home sold more quickly, and for more money - nowÂ that'sÂ what every home seller wants!
For more information about buying or selling a North Shore home, contact me at 847-652-1902 or Stephanie.Hofman@gmail.com. Check out my website by clickingÂ here.