Benefits of Proper Pricing
Faster sale
When your home sells faster, you save carrying costs, mortgage payments
and other ownership costs. A quicker sale creates less inconvenience
for you. If you've moved before, you know the energy it takes to
prepare for showings: keeping the home clean, making child care
arrangements and altering your lifestyle. Proper pricing reduces these
demands on you, by helping your home sell faster. At market value your
home will gain exposure to more prospects who can afford the price.
Sellers who list at a high price are looking for that one buyer who
will pay it. Sellers often do not realize that they have discouraged
many potential buyers who could have afforded the home. The final sales
price is probably one that will be affordable by more purchasers. This
is because sellers many times accept a much lower price at a much later
date since that one buyer willing to pay the higher price never comes.
Increased salesperson response
When salespeople are excited about a home and its price, they make
special efforts to contact all of their potential buyers. Knowing that
it is priced properly for its market, they expect it to sell soon and
encourage their prospects to act quickly. Their excitement is
contagious!
Better response from advertising and sign calls
Ad calls and sign calls to Realtors turn into showings when price is
not a deterrent. Most serious prospects are well educated about asking
prices in the areas they are seeking. They will not waste their time on
a home they consider overpriced.
Higher offers attracted
Buyers fear they might lose out on a good home when it is priced right.
They are less likely to make "low ball offers." Better pricing attracts
multiple offers, too!
Means more money to sellers
If a home is priced right, the excitement of the market produces higher
sale prices. You net more both in terms of actual sale price and in
less carrying costs.