Real Estate Insider Blog
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When it comes down to it, the most important advice a real estate agent can give sellers is how to price their home. No matter how beautiful or well-maintained a property may be, how many upgrades it has or how well it shows, if a home is not properly priced, it’s going to be a tough sell.
The battle for agents most often lies with aligning what sellers’ think their home is worth with its true market value.
These disparate realities can be difficult to merge when working with a seller to set a list price or on a price adjustment. Here are seven pricing myths that often get in the away.
1. It is better to price the home on the high side because the seller can always come down. If buyers are interested, they can make an offer.
Well, not quite. If a home is overpriced, a seller risks losing potential buyers who aren’t stretching their search into an uncomfortable price range.
The asking price sets the stage and may invite or dissuade buyers based on the dollar amount. Just as you would painstakingly prepare your home for sale, you never get a second chance to make a first impression price-wise.
2. If a home is priced just right, a seller risks leaving money on the table.
Actually, the opposite is true. A well-priced home tends to generate a lot of interest and can result in multiple offers.
A shorter marketing span brings strong offers that could result in a home ...
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