Pricing Your Home Sellers often price their homes too high to start with, thinking “I’ll price it high and I can always lower the price later if necessary.” This is a drastic mistake!!! Always try to price your property competitively in the beginning. If you overprice initially you will probably be offered thousands of dollars less when it is finally sold than you would have been offered early on if the price had been competitive.
As your Coral Springs and Parkland REALTOR team, there are several ways to come up with a price at which to list your home.
• We check the price of other properties “for sale” or sold in your area • We preform a Realtor’s market analysis (or several) with MLS information (Multiple Listing Service) • We contact the Tax Assessor’s office for the selling price of homes in your area
Remember that buyers are usually very “market smart.” They have already shopped around and THEY KNOW if your property is priced fairly and competitively. Don’t kid yourself!!! Buyers WILL bypass your home and go on to find more fairly priced home. Buyers are more likely to make a reasonable offer on a fairly priced home and they are likely to make no offer on an overpriced home!
Overpricing your home will generate:
•No offers •No Showings •NO SALE!
The reasons for this are simple: 1. A property will not sell quickly if it is not offered at a competitive price. 2. FSBO buyers will usually walk away from an overpriced home without making an offer. 3. The most enthusiasm for a newly offered property is in the beginning (first few weeks). 4. After the first month or so, an overpriced property becomes “shop-worn.” 5. New prospects may know how long a property has been offered for sale, and after a month they may assume something is wrong with the property. 6. Buyers at this late date, knowing how long a property has been for sale, assume the seller must be desperate and will almost always make very low offers.
