You have room to deal with buyers who like to bargain aggressively. Plus, your agent can comfortably take his or her percentage without compromising what you’ll receive from the sale. Sounds like a win-win situation, right?
Well, the process of property-selling goes deeper than that. A well-maintained house that has been priced competitively from the get-go is more likely to sell within the higher end of its value scale. It is also expected to get off the market in a relatively shorter period of time.
Of course, there are a number of things that contribute to the time a house spends on the market. However, the initial pricing structure has proven the be one of the most influential factors in determining the time to closing.
When it comes to pricing, agents know best…
As a homeowner, your house is your first and foremost concern. As such, this could result in you having limited knowledge of the world beyond the borders of your own home- which, in this case, is the real estate industry at large. It is because of this limited view of the market that some homeowners have a tendency to overvalue their property- they are just that attached to it.
There is a common misconception that real estate agents severely undervalue houses to sell and get them off the market as quickly as possible. While unscrupulous agents do exist, the majority of them are more concerned with making sure that your house is accurately priced according to current market conditions.
With this in mind, it’s important to be receptive to your agent’s advice on how to prep up your home for a sale. Potential buyers often respond to a listing within a couple of weeks after posting, so making it attractive right from the start (especially when it comes to pricing) increases your chances of having a favorable sale.
As the popular saying goes, “First impressions, last.” The same rings true for your house listing…
Take advantage of the early momentum when you first put up your house for sale. An overpriced listing that stays inactive for weeks often ends up having its price reduced eventually until it reaches a price point that is more in tune to what the market perceives its value to be.
The above article “Why Overpricing Your House Will Always Be A Bad Idea” has been provided by Justin Culley. Justin is a professional, full-time Realtor with Bridge Realty and has helped many people buy and sell homes throughout the entire Twin Cities metro for many years! If you are in the market to BUY or SELL a home, he would love to connect with you and can be reached via email at info@JustinCulley.com or by phone at 612-581-6842.
Are you thinking of selling your home? I’m very good at marketing homes to sell quickly, and for more money. If you’re a first-time home buyer then you’ll be in good hands. I’ve helped countless first-time home buyers through the entire process of buying that first home! I have a real passion for helping folks buy and sell homes here in the great state of MN and I would love to connect with you!
I help people buy and sell real estate in the following Twin Cities area cities & neighborhoods: Eagan, Hugo, Highland, Inver Grove Heights, Lake Elmo, Mac-Groveland, Mahtomedi, Oakdale, White Bear Lake and Woodbury to name a few. Other specialty areas include: Kenny, Lyndale, Tangletown, Lynhurst, Armatage, Kingfield and Carag neighborhoods.
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