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Pricing Your Home

Now for the most important part in selling your home: determining what price to list it as. It is very very important that you take the time to really think this through and consider all the details of why you should list it at that price. People make the common mistake of pricing their home high, thinking that they will just negotiate down to their preferred price.

However, an obvious downside to this strategy is that it might deter some potential buyers and will not allow them a chance to put in an offer. Here is an example to prove my claim. Say your house is actually worth $250,000 and you want to get something close to that number. So you decide to list at $280,000, thinking that if people "low ball" you, you could still negotiate and end up at that desired $250,000 range. But people who are looking for a house at $250,000 most likely won't even look at your house because they think that it is above their budget. And then people looking at houses in the $280,000 will ignore your house since it is not comparable to the rest, because it really is actually worth just $250,000.

This would mean that you are missing out on a big chunk of those potential buyers that could actually buy your house. So as a result, your house will be in the market longer, it will get stale - this will not look good. Also, being in the market longer reduces the chance of multiple offers considerably. As a seller, you always want that "buyer fury" to be present.

Note that I am not saying that overpricing is wrong. To some extent, almost every seller does it. Listing your house at exactly your desired price usually results in closing at a lower price because of buyer-seller negotiations. So pricing it a little high is not necessarily a bad thing.

As your Realtor
®, I will help you through the process and ensure that we list your house at that perfect price. Remember that as long as your house is priced well, you'll most oftenly get your desired amount.