Common mistakes when pricing your home
Sidestep these two common pricing mistakes the next time you’re ready to proudly plant a sign in the yard:
Mistake #1: Not listening to your agent's recommendation.
Emotions run high when selling, especially if you’ve lived in your home for years. Sometimes I have sellers who love their home so deeply, they can’t see clearly where to price it. Other times, sellers want to recoup 100% of their upgrade or renovation costs.
The truth is, pricing a home for the market is more than emotions or renovation costs. It’s comps, location, size, age, updates, and, of course, market conditions. While a good agent will always listen to your opinions, he or she will use their own tried-and-true methods to price your home accurately.
Mistake #2: Way overpricing your home so you’ll have “room to negotiate.”
Overpricing is the #1 way to crush your chance at getting the most money for your home. The idea that pricing a home higher will lead to a higher sale price is just flat out WRONG!
The first few days of a listing are the likeliest to bring a high offer. Crazily overprice it and buyers won’t be interested. Remember they have agents too who know what your home is worth. A home that is priced right will generate more interest and sell faster.
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