Myth vs. Fact Series: Price Positioning

Before I get into the details about today's blog, I just wanted to say - this is my first blog...ever! So bare with me as I learn to blog like a pro!

In this February Series "Myth vs. Fact", it's my hope to help clear up some real estate questions.

So here it is...

Myth:  List your home "high" so you have room to negotiate.

Makes sense, right? You know you want to make $300K on your home, but see negotiations happening..so you decide you want to list it for $315K. Gives you wiggle room..And hey, when you agree to come down $15K you're giving the buyer a great deal. Right?!

I'm going to start with a big NO on that thought process. In theory it works, but when it comes to the real life real estate market, it does not.

Top Reasons why listing too high is a bad idea and not in a seller's best interest:

1. It can scare buyers away before they even take a step through the front door.
2. Buyers aren't looking at the house, which means no offers...
3. No offers will eventually lead to a price reduction while the house sits on the market.

A property attracts the most activity from the real estate community and potential buyers when it's first listed.  Your home has the greatest opportunity to sell when it's new on the market. The first 4 weeks are the time when any price adjustments should be made.

Leave it to your REALTOR to run the market analysis, and determine the best price for your home. If you hire someone you trust they will be on your side, even when they aren't telling you the news you want to hear..aka "I don't recommend listing your house at $315K because market value is only $295K."

Now, we aren't recommending listing your home so low you're losing money.  We believe in price positioning.  You need to position your home in the market so it will sell in the correct amount of time for the most money.

Call us today to find out more information about how to position your home in the current market to sell!