Help your sellers steer clear of common pricing hiccups that can turn away potential buyers. Share this RE/MAX blog post with them!
Here are six common pricing mistakes all sellers should avoid:
1. Overpricing from the start – You might think your home is the best on the block and should command a price relative to the value you see. Wrong.
2. Leaving out potential buyers in online searches – Entering a price range is the first search parameter most homebuyers use to narrow down their options. If a buyer’s price range is, say, $250,000 to $300,000, they won’t see your home if it’s listed at $305,000.
3. Not considering recently sold properties – To arrive at a listing price that will generate buyer interest, you can’t base your price solely on the prices of other homes in your area that are listed for sale. You also need to consider recent sales in your neighborhood and the final sale prices.
4. Getting too creative with your asking price – Make it easy for buyers and pick round numbers. Listing a home for $512,477, for example, will give potential buyers pause about your intentions and divert attention from your property to you, as the seller.
5. Not being open to negotiation – The quickest way to kill a sale is to dig in your heels on asking price before the for-sale sign even goes in the yard. Negotiation is a two-way street, and if you refuse to budge on pricing or other conditions, you might be in for very bumpy (and long) ride.
6. Ignoring your agent’s insights – The best route to the right price starts with picking a great agent and then listening to his or her advice.
