- • There are three prices for the house:
- Price You (The Seller) Like
- Price A Buyer Is Willing To Pay
- Price That Reflects True Value – What A Willing Buyer And Seller Will Agree Upon
- • Overpricing in a rising market may be okay; overpricing in a falling market is disastrous.
- • Benefits to Proper Pricing: faster sale which will save carrying costs, less inconvenience, exposure to more prospects, increased salesperson response, better response from advertising the sale calls, attracts higher offers and means more money to sellers.
- • The largest impression and most impact a property makes on the market upon buyers and upon agents is in the first few weeks of the listing. Therefore it should show the best and be priced the best during those weeks.
- • Serious buyers look in the price range which has been predetermined by their down payment and monthly payment ability. Unless your property is priced correctly, the down payment and monthly payment requirements will not be competitive.
- • Buyers purchase by comparison and a property priced above the competition does not “compare” favorably. Inviting a buyer to make an offer could indicate that a fair price has not been established.
- • It is a mistaken idea to think that you will get more for a property by asking more. You usually get less, because fewer buyers will consider it, the right buyers will not see it, and it usually stays on the market so long that it tends to become “shop worn.”
If you are a serious seller, why not price your property at market and contract serious buyers?
