Sellers: It's Risky Pricing High to 'See What Happens'11/15/2018
Every seller wants to get the best deal for their house. So why not just price your house way up there and see what happens? After all, you can just bring it down later, right?
Well, there are a few problems with that. If you price high and then slowly start bringing it down ... and down ... and down ... buyers are going to notice. It makes the home start to seem like it's in a bargain bin. You want your home to appear like it's top shelf, not cheapened goods. When it sits on the market for an extended time because of overpricing, buyers are going wonder why. What's wrong with it? Would you feel urgency as a buyer if you read that a property was listed 180 days ago? Probably not.
To set a realistic price, consider these tips:
1. Do your due diligence. What have houses like yours sold for in your neighborhood? Not what they were listed for, the actual selling price. (It's free public information available on the Jasper County Assessor website) https://beacon.schneidercorp.com/JasperCounty
2. Have an honest discussion with myself or your real estate agent. He or she knows the area and wants to sell your home as quickly as possible for the most competitive price. What does he or she think your initial market position should be?
3. Be an assertive seller, but don't overplay your hand. Remember, the little extra money you hold out for may not be worth the six months or year of mortgage payments you're stuck paying in the meantime. Plus, the other stresses of selling including having to keep your house clean for buyers that may want to see it at a moment's notice.
When I do a Market Analysis Report on your home, I'll show you what houses similar to yours are selling for in today's market. I'll also show you a list of all the other houses on the market competing against yours in your price range. With that information, we can confidently price your home to maximize your net profit and to sell it as quickly as possible.
source: ReMax blog