The Worst Thing a Seller Can Do in a Hot Market

🏠 Simply put: Overpricing your home is the worst thing you can do, particularly in this market.⠀⠀⠀⠀⠀⠀⠀⠀⠀

🏠 Even though there is high buyer demand for homes in today’s low inventory market, you still shouldn’t overprice your home.

🏠 When it comes to pricing your home, setting it at or slightly below market value will increase the visibility of your listing and drive more buyers your way. This strategy actually increases the number of buyers who will see your home in their search process. Why? When potential buyers look at your listing and see a great price for your fantastic home, ***ESPECIALLY in comparison to other homes that they see in the same price range*** they will be more excited about your house and more apt to make offers.

🏠 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 – or pricing it to sell immediately – makes a big difference.

🏠 Here’s the other thing: homeowners who make the mistake of overpricing their homes will eventually have to lower the prices 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. 

If you’re thinking about selling your home this year, let’s connect to help you properly price your home and maximize demand from the start.