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 in between those two tipping
points.
Contact me today for help determining
the right price for your property.
email: valeriemcconville@gmail.com
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