Pricing your home lower may be the key to getting top dollar.
Lately, I’ve had a few clients ask, “I want to buy a house, but how much over list price is this going to go?” It can vary wildly based on the pricing strategy. Today I want to talk how sellers should price their homes in this market.
Someone with a $700,000 home may choose to list for $799,000 in the hopes of this hot market pushing it toward $800,000. However, even if they get beautiful photography and advertise it everywhere online, the home may still sit on the market and become a little stale. People will start wondering what’s wrong with the house and look for something else.
One of the best ways to get $800,000 for your $700,000 house is to start much lower. List at $725,000, and when you apply a marketing strategy like mine that’s proven to get results, you’ll get lots of showings, and the price will be driven up organically. I’m not advocating that you lowball the listing and receive 57 offers. I’m saying that if you have a proven strategy to get eyes on the listing, it will make sense to reasonably but aggressively price the home toward the lower end of the average so you can let the market frenzy dictate the results.
This strategy doesn’t work in every market or neighborhood, so reach out to me by phone or email to schedule a strategy session so we can talk about your specific situation. I look forward to hearing from you.
