TRUE OR FALSE: Pricing your home high leaves room for negotiation.
Pricing high leaves NO room for negotiation—because no one’s even going to walk in your house to make an offer!
> Overpricing always scares buyers off.
Buyers are more educated than ever, thanks to social media and Zillow. They know an overpriced home INSTANTLY when they see it.
I hear a lot of clients say,
“But let’s just try a higher price for a couple weeks to see if we get any bites.”
That’s a bad idea. The first week on the market is when the majority of eyes are checking out your home. It’s when buyers are ready to move fast on the perfect home. If the home is overpriced, their first impression is forever tainted.
Once they pass on your home, it’s nearly impossible to get them back—even with price reductions.
In the mean time, your listing is racking up the "days on market" - which is KRYPTONITE for getting the highest sale price. I cannot stress how many times I've been in a home that is finally perfectly priced (after price reductions) and in good condition to hear buyers say,
What's wrong with this house? It's been on market for XX days. I'm going to pass.
Your goal is to get people in the door to see your home. No one is scared to write a full price offer on something they like. When you price your home correctly, you’ll see way more offers, right out of the gate. (We’ll talk about how to value your home later in this guide.)
Interesting Fact: There’s compelling evidence that pricing slightly under market value will net a HIGHER price than if you were at or above market value. We continuously have this result. It does take some guts to commit to, but the pay off is high!
That being said, not every home (or market) is ideal for this type of strategy. Curious if your home would be a good one to use this strategy? Shoot me a text to get the facts. 702.610.8016