Setting the right list price for a home is a mystery for many sellers. How do
you begin to determine what buyers are likely to pay for your property? After
all, no two homes are exactly alike.
Yet, setting the right price is crucial. You need to avoid the two price “tipping
points” that, if crossed, can cause you a lot of problems.
The first tipping point is a price that’s low enough for buyers to begin
thinking something is wrong. They wonder, “Why is your price so low? What
are you not telling us about your property?”
But that’s not even the worst problem with this tipping point. If you do get
offers at that low price, you’ll have a bigger issue – leaving thousands of
dollars on the table.
The other tipping point is setting your price so high it discourages buyers
from giving your listing a second look. When your price is that high, you’ll
get few enquiries and even fewer people coming to see your property.
Of course, you can lower your price later, if necessary. But experience
shows that reduced prices make potential buyers skeptical. Most sellers
who price high in the hopes of getting a windfall actually end up selling for
much less than they would have if they had priced their properties correctly
in the first place.
So what’s the right price to list your property? The answer is somewhere inbetween
those two tipping points.
Call today for help determining the right price for your property.