Pricing Your Home Right from the Start

Pricing your home properly from the beginning increases the likelihood that your house will sell quickly for the highest price possible. There are four reasons why you must price your home correctly the day you put your home on the market.

Inconvenience
The longer a house sits on the market, the more frustrating it can be for the seller. Can you imagine having buyers and real estate agents coming in and out of your home for months? Can you imagine having your home in "model perfect" condition for months?

Competition
Make sure that your property is competitively priced for your neighborhood. Your agent will give you the latest statistics in your area. Nearly 90% of all buyers use real estate agents which means they are well informed of the market conditions. If your home is not competitive in value with those they have have seen in the same price range, most realtors will not waste their buyers time showing it.

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The largest number of buyers will visit your home the first 2 weeks on the market. The longer the home stays on the market, the fewer people who will want to see it. Even if the price of the property is lowered later, there will be a sort of stigma attached to the property. People will wonder "what's wrong with this home - why hasn't it sold?"

Appraisals
After you find a buyer, there could still be problems stemming from mispricing your property. If your home is overpriced, it may not appraise for the sales price. And this means you will either have to lower the price or lose the buyer.