Jul 10
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Common Pricing Blunders and How to Avoid Them
No one wants to undervalue their property, but overpricing a home can be equally self-defeating. As many FSBO (for sale by owner) sellers have discovered the hard way, working with an experienced real estate pro would have been the best way to avoid this predicament. Just be sure you don’t make these common pricing blunders offered by HGTV’s FrontDoor.com:
Ignore your listing agent’s advice by “testing the market” with a too-high asking price. Home almost always sell faster and for more money if they’re correctly from the outset.
Let your emotional investment in the home dictate a pricing strategy. Instead, stay objective by focusing on data contained in your agent’s comparative market analysis.
Try to “recoup” the agent’s commission by overpricing property. Like testing the market with an inflated value, this approach usually forces a seller to slash the price after the home sits on the market too long.
Chase the market with stingy price cuts. If you’ve priced your home fairly and still haven’t gotten any offers, don’t hesitate to lower the price. But make it worthwhile. Small reductions simply keep your home “stuck” behind more competitively priced properties.
Hope this sheds some light for you on pricing blunders and how to avoid them. I also have a free report titled “10 Steps To Sell Your Home in a Slow Market” you can have just by clicking the title. Happy selling!
