Why pricing right is important while selling.

Today's  the buyers are very informative, they have an access to the information where they can tell if the property is over or under priced. High priced properties might get lots of showings but will not get any offers unless there is a reasonable cause for high price (eg. upgrades, location etc.). Such high price listings stays on the market for longer than average selling time for the area and even if we reduce the price after, will only attract low price offers. Statistics show that the best price recieved is always in first two weeks of the listing period. Under priced listings will attract lots of buyer's interest, probability of multiple offers and selling over the asking price is high, but such listings even sold higher than the asking price are usually sold less than the market value. Sellers use this stratergies for a reason, which is very important to know for the buyers. A professional realtor would always try to find out the reason for seller's listing the property below market value. Henceforth listing the property at right price will sell within the average selling time for the area, with least negotiations and for best possible price.

 

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D. Pal Singh

D. Pal Singh

Broker
CENTURY 21 New Star Realty Inc., Brokerage*
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