Pricing your home too high above the competitive market value runs the risk of having the listing “go stale”.
Having your home on the market for a long time can create doubt, and make people wonder “what’s wrong with it?”
Conversely, when the price is too low, you may get a quick sale, but you may not be receiving the “best value” for your home.
The #1 mistake sellers make is thinking, "I will list at a high price now, and if it doesn’t sell, I will lower the price later”.
Research shows that buyer activity peaks in the 3rd week on the MLS, yet most sellers will not reduce until week 4 or more, effectively missing the peak of buyer activity.
Pricing properly the first time enables you to get maximum exposure that increases your chances of attracting the highest offer that is closest to your original list price.
Overpricing is a critical mistake that costs homeowners precious time and money.
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