Answers to some important facts about Pricing your home to Sell:
How much is your property worth?
On the average, buyers inspect 12 homes before making a decision...that means that 11 other homes are competing against yours. The right price means a faster sale and the best price!!
Overpricing a Home Can Cost the Seller...
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Opportunities - losing the opportunity to finalize the purchase of your chosen home because you are unable to sell your existing property
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Money - the lower eventual sales price and possible losing the earnings on your equity - a seller's best offer is usually his first offer
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Time - it will take longer to sell your property due to lack of interest. There will be more time spent cleaning, waiting for people to arrive/leave, waiting for an offer, and additional open houses
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Competitive Edge - an overpriced property will help sell other properties in our market area
Problems with Overpricing:
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Hard to get sales people excited to show home
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Hard to get good, qualified buyers to look at home
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Hard to get people to make an offer
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Hard to get financing/appraisals to work
Studies show:
20% over market ...........................................20% chance to sell
15% over market ...........................................30% chance to sell
10% over market ...........................................50% chance to sell
AT MARKET .................................................100% chance to sell