Congrats! You are selling your house. We all know it is a sellers market, and homes are selling for record high prices and in very short amount of days. This information is encouraging some sellers to price their home higher than market value.
In order to soften the blow of my stern message to sellers, watch this 47 second video about why it is best to price your home correctly from the first day you go on the market:
In this frenzied real estate market, buyers know what a home is worth. If you under-price your home, as long as you set an offer review date, the market will end up driving the price up to at or above what you may have considered “fair market value.”
By pricing your home accurately from the beginning, you will have the largest potential buyer pool and best odds of receiving more than one offer. If you over-price your home, you will end up losing out on the initial flood of potential buyers. Sad but true, in todays market, if a home has been for sale for over two weeks, buyers assume something is wrong with it and often pass it up.
To sum it all up:
Price your home at the fair market value. It will expose you to the largest pool of potential buyers, leveraging that “crowd” of buyers eager for new listings, and allow you to get the best offer(s) with the best term(s).
Go Mariners! 🙂