Pricing Strategy

There’s a big buyer demand for homes in today’s market, but that doesn’t mean you should price your home sky high when you’re ready to sell. Here’s why making sure you price it right is key to driving the best price for the sale.

There is a strategy to home pricing.  Setting the price at or slightly below market value could actually increase the visibility of your home and drive more buyers your way. Why does this happen? When potential buyers look at your listing and see a great price for a fantastic home, they’re probably going to want to take a closer look. This means more buyers are going to be excited about your house and more apt to make an offer.

When this happens, you’re more likely to set up a scenario with multiple offers, potential bidding wars, and the ability to drive a higher final sale price. At the end of the day, even when inventory is tight, pricing it right makes a big difference.

Here’s the other thing: homeowners who make the mistake of overpricing their homes may eventually have to lower the prices anyway after they sit on the market for an extended period of time. This leaves buyers wondering if the price drops were caused by something wrong with these homes when in reality, nothing was wrong, the initial prices were just too high.