Increased Response from Buyers
Market statistics indicate that
the right condition, terms, and price will attract the highest number of
qualified buyers which will in turn produce top value for the you, the
seller.
Faster Sale
The market clearly demonstrates
that a house priced correctly sells in less time. This saves you money in
carrying costs, mortgage payments, and other ownership costs.
Higher Net Proceed
When your home is priced right a
buyer is less likely to make a low offer out of fear of losing out on a good
home. Often times, multiple offers are made simultaneously. This means a
higher net proceed for you in terms of lower carrying costs and higher
actual sales price.
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Risks
of Overpricing |
Longer Marketing Period
Buyers shop by comparison and it
is highly unlikely that a buyer will pay more for your property than for a
similar property. By the time a home is reduced to market value, potential
buyers are anxious to know why the home has been on the market so long and
may wonder what is "wrong" with the home.
Ultimately Lower Sales Price
Starting out high and
periodically reducing the sales price of your home may send the wrong
message to potential buyers. Experience show that the higher a seller tries
above Fair Market Value, the lower the home will ultimately sell.
House Does Not Sell
This is the greatest risk of
all. As a general rule, a buyer simply will not pay more than market value
for any home.