2020-02-10
How Pricing Your Home Right Makes a Big Difference

 

How Pricing Your Home Right Makes a Big Difference | MyKCM

Even though there’s a big buyer demand for homes in today’s low inventory market, it doesn’t mean you should price your home as high as the sky when you’re ready to sell. Here’s why making sure you price it right is key to driving the best price for the sale.

If you’ve ever watched the show “The Price Is Right,” you know the only way to win the game is to be the one to correctly guess the price of the item up for bid without going over. That means your guess must be just slightly under the retail price.

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 a fantastic home, they’re probably going to want to take a closer look. This means more buyers are going to be excited about your house and more apt to make an offer.

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 anyway after they sit on the market for an extended period of time. This leaves buyers wondering if the price s were caused by something wrong with these homes when in reality, nothing was wrong, the initial prices were just too high.

Bottom Line

If you’re thinking about selling your home this year, let’s get together so you have a professional on your side to help you properly price your home and maximize demand from the start.


 Subscribe to RSS Feed
Welcome to our Blog!
2020-03-20
A Recession Does Not Equal a Housing Crisis [INFOGRAPHIC]

2020-03-19
Are We About to See a New Wave of Foreclosures?

2020-03-18
Three Reasons Why This Is Not a Housing Crisis

2020-03-17
Two Big Myths in the Homebuying Process

2020-03-16
5 Simple Graphs Proving This Is NOT Like the Last Time

2020-03-13
Buying a Home: Do You Know the Lingo? [INFOGRAPHIC]

2020-03-12
Yes, You Can Still Afford a Home

2020-03-11
Confidence Is the Key to Success for Young Homebuyers

2020-03-10
Equity Gain Growing in Nearly Every State

2020-03-09
New Homes Coming to the Housing Market This Year

2020-03-09
The Difference an Hour Makes [INFOGRAPHIC]

2020-03-06
Impact of the Coronavirus on the U.S. Housing Market

2020-03-04
Real Estate Is Soaring, But Not Like 2008

2020-03-03
How Interest Rates Can Impact Your Monthly Housing Payments

2020-03-02
How Your Tax Refund Can Move You Toward Homeownership This Year

2020-02-28
10 Steps to Buying a Home [INFOGRAPHIC]

2020-02-28
How Much “Housing Wealth” Can You Build in a Decade?

2020-02-26
Thinking of Selling? Now May Be the Time.

2020-02-25
Entry-Level Homeowners Are in the Driver’s Seat

2020-02-24
Opportunity in the Luxury Market This Year

2020-02-21
Interest Rates Over Time [INFOGRAPHIC]

2020-02-20
The #1 Misconception in the Homebuying Process

2020-02-19
The Many Benefits of Aging in a Community

2020-02-18
How Trusted Professionals Make Homebuying Easier to Understand

2020-02-17
The Overlooked Financial Advantages of Homeownership

Click here to see ALL articles.




Comment on this Article

Your Name:
Your Email:
Comments:
Verify:  Please enter the numbers shown to help eliminate spam.