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How Pricing Your Home Right Makes a Big Difference

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Even though there’s a big buyer demand for homes in today’s low inventory market, it doesn’t mean you should price your home as high as the sky when you’re ready to sell. Here’s why making sure you price it right is key to driving the best price for the sale.

If you’ve ever watched the show “The Price Is Right,” you know the only way to win the game is to be the one to correctly guess the price of the item up for bid without going over. That means your guess must be just slightly under the retail price.

When it comes to pricing your home, setting it at or slightly below market value will increase the visibility of your listing and drive more buyers your way. This strategy actually increases the number of buyers who will see your home in their search process. Why? When potential buyers look at your listing and see a great price for a fantastic home, they’re probably going to want to take a closer look. This means more buyers are going to be excited about your house and more apt to make an offer.

When this happens, you’re more likely to set up a scenario with multiple offers, potential bidding wars, and the ability to drive a higher final sale price. At the end of the day, even when inventory is tight, pricing it right – or pricing it to sell immediately – makes a big difference.

Here’s the other thing: homeowners who make the mistake of overpricing their homes will eventually have to lower the prices anyway after they sit on the market for an extended period of time. This leaves buyers wondering if the price drops were caused by something wrong with these homes when in reality, nothing was wrong, the initial prices were just too high.

Bottom Line

If you’re thinking about selling your home this year, let’s get together so you have a professional on your side to help you properly price your home and maximize demand from the start.

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Mark Sincavage

Mark Sincavage is a seasoned real estate professional with a proven track record of success. Holding real estate licenses in New Jersey and South Carolina, and previously in New York, Mark's career has been marked by remarkable achievements. Since 2010, he has facilitated real estate transactions totaling over $350 million. Mark currently operates as a valuable resource for clients, providing real estate referral services through the Coldwell Banker Realty Referral Network. With an extensive network of real estate agents—locally, nationally and globally, a wealth of knowledge, and a rich tapestry of experiences, Mark has established himself as the go-to partner for successful real estate transactions. His dedication to professional growth and excellence is evident through his prestigious credentials, which include Seller Representative Specialist (SRS), Seniors Real Estate Specialist (SRES), Short Sale and Foreclosure Resource (SFR), and Resort & Second Home Property Specialist (RSPS). When the time comes to embark on a residential real estate journey, Mark Sincavage stands ready to offer his expertise and guidance, ensuring a smooth and successful experience for all his clients.