Our client: “Should we price it high to see what happens?”
Our answer: I can already tell you what’s going to happen…
You’ve got 3 options when it comes to pricing your home for the market: above, at, or under market value.
We know pricing it high can be tempting, but keep in mind these pros and cons for each option:
Above market value:
+ If you have to receive a certain amount for the home
– It will take longer to sell
– The more days it’s on the market, the worse it looks to prospects
– The home may not appraise by the buyer’s lender, back to negotiations
At market value:
+ No appraisal issues
+ Buyers and agents will recognize a fair price
+ Will appear on more relevant buyer searches
Under market value:
+ If you have to receive a certain amount for the home
– It will take longer to sell
– The more days it’s on the market, the worse it looks to prospects
– The home may not appraise by the buyer’s lender, back to negotiations
If you’d like to see recent stats on homes like yours, just say the word. Pretty sure you’ll come to the same conclusion as we did — pricing just under market is the way to go!
