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Stephanie Hofman's Blog

By Stephanie Hofman | Broker in 60015

Pricing to Sell!

Pricing to Sell!

"Let's just try it at this price..."

"I need room to negotiate..."

"But my house is better..."

"I'm 
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 the current market value.  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 a 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 about creating the perception of value.

The chart below illustrates how homes that are priced RIGHT - without the "padding" or the "trial time" - sell faster and for MORE money than those that are overpriced:

Energy Price table 2012

So, you can see, that pricing your home aggressively will, in the end, get your home sold more quickly, and for more money - now that's what every home seller wants!

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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 clicking here.

 
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