Why You Shouldn't Overprice Your Home When Selling


Why You Shouldn't Overprice Your Home When Selling 

When selling a house, there are a number of things you can do to make your listing more attractive to prospective buyers. Some obvious examples include an open house and professional photos, but the number one thing you can do to get a good response from buyers is to price it right.

A perfectly staged house with professional photos isn't going to sell quickly if it's priced too high.

According to a recent analysis by Redfin, lowering the price after your home's been on the market awhile isn't as effective as setting the price correctly the first time. In fact, when comparing the number of online views a home gets the day it's listed as opposed to the day of a price drop, the initial listing gets almost three and a half times the number of views. In other words, you'll never get another chance to make a first impression. The longer your home has been listed without selling, the more likely buyers will assume there is a reason no one has bought it yet.

There is an easy way to avoid falling into this trap. Simply follow the guidance of the pros you have hired to help sell your house. They will be able to give you an accurate assessment of your home's current market value, and help you avoid pricing it too high for interested buyers.