Pricing your home appropriately is crucial in getting it sold. Here are a few reasons why you should price your home realistically.
Chances are that your home will sell at its fair market value. Pricing it realistically at the outset increases the likelihood of a timely sale with less inconvenience and greater monetary return.
Buyers educate themselves by viewing many homes. They know what price is fair. If your home is not competitive in value with those they have seen, then it will not sell. Additionally, buyers typically look at homes within a specific price range. If your home is not priced within the correct range, then you may likely miss the opportunity to present it to the right potential buyers.
Overpricing causes most homes to be on the market too long. Buyers, aware of a long exposure period, are often hesitant to make an offer because they fear “something may be wrong” with the house. Statistics show that homes on the market for a long time eventually sell for less than their fair market value.
If overpricing keeps your home from selling promptly, then you may end up owning two homes—the one you’ve already purchased and the one you’re trying to sell. This can prove to be costly and stressful.
At Ocean Pointe, Realtors, our knowledgeable agents will work with you to determine a realistic market value that will help sell your home quickly and maximize your return on your investment.