How Pricing Your Home Right Makes A Big Difference

Dated: 02/11/2020

Views: 133


How Pricing Your Home Right Makes a Big Difference | MyKCM

Even though there Is a big buyer demand for homes in today’s low inventory market, it doesn’t mean you should price your home as high as the sky when you’re ready to sell. Here’s why making sure you price it right is key to driving the best price for the sale.

If you have ever watched the show “The Price Is Right,” you know the only way to win the game is to be the one to correctly guess the price of the item up for bid without going over. That means your guess must be just slightly under the retail price.

When it comes to pricing your home, setting it at or slightly below market value will increase the visibility of your listing and drive more buyers your way. This strategy actually increases the number of buyers who will see your home in their search process. Why? When potential buyers look at your listing and see a great price for a fantastic home, they are probably going to want to take a closer look. This means more buyers are going to be excited about your house and more apt to make an offer.

When this happens, you are more likely to set up a scenario with multiple offers, potential bidding wars, and the ability to drive a higher final sale price. At the end of the day, even when inventory is tight, pricing it right – or pricing it to sell immediately – makes a big difference.

Here is the other thing: homeowners who make the mistake of overpricing their homes will eventually have to lower the prices anyway after they sit on the market for an extended period of time. This leaves buyers wondering if the price drops were caused by something wrong with these homes when in reality, nothing was wrong, the initial prices were just too high.

Bottom Line

If you’re thinking about selling your home this year, lets get together so you have a professional on your side to help you properly price your home and maximize demand from the start.

Latest Blog Posts

How Pricing Your Home Right Makes A Big Difference

Even though there Is a big buyer demand for homes in today’s low inventory market, it doesn’t mean you should price your home as high as the sky when you’re ready to sell. Here’s

Read More

Jan 30 2020 70308 1

Should I Sell My House This Year?If one of the questions you are asking yourself today is, “Should I sell my house this year?” the current Housing Opportunities and Market

Read More

The 2020 Real Estate Projections That May Surprise You

This will be an interesting year for residential real estate. With a presidential election taking place this fall and talk of a possible recession occurring before the end of the year, predicting

Read More

Holiday Gifts Are Not The Only Hot Things Right Now

Black Friday is behind us and holiday gifts are flying off the shelves in stores and online. Unlike last year, however, there is another type of buyer that is very active this winter the homebuyer

Read More