Many people believe that the starting listing price for a house isn’t important because it can always be adjusted later. However, overpricing your house could prove to hurt your chances of selling. Agents show clients houses in similar price ranges and yours could be passed over as not as attractive as the other houses at the same price. Agents also pay the most attention to new listings. New listings are on the “hot” sheet circulated in real estate offices, and a properly priced house from the beginning will get the most attention.
You might want to set a high selling price with the intent of negotiating, but buyers do not initially think about how much you are willing to negotiate, but rather, they are comparing your asking price to other asking prices. Lowering your price after your house has been on the market for a while will likely get unnoticed by agents because your listing will not be moved back into the new listing cycle. This could ultimately lead to receiving lowball offers and you could sell for less than if you had priced the home correctly in the first place.
Ultimately, starting out with the right price for your house should lead to a higher selling price than if you had started with a higher asking price. I welcome your comments please feel free to post a reply. Please remember to visit my website at http://www.alan-realtor.com for the latest and greatest info on real estate. SeeYou......
Monday, October 02, 2006
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