|Topics for Home Owners, Buyers & Sellers|
Pricing a listing at market value is a critical component to getting it sold. Here are a few of the advantages of pricing it right:
- Less Time on the Market. Homes that were priced at market value sold in half the number of days as homes that were overpriced.
- More Money. Pricing right when the home is first listed leads to sellers netting a higher percentage of their asking price, also referred to as the list-to-sell ratio.
- Less Hassle. When a home is priced right, it means that fewer buyers need to view the home to understand it is a good value—and that leads to fewer showings before getting an offer.
- Fewer Reductions. When a home is priced at market value, often it won’t need a price reduction. Depending on local market conditions, sometimes it will—either way, it will be less likely to require one if it is priced right to begin with.
- More Multiple Offers. Homes that are priced right are twice as likely to have multiple offers. This can lead to a higher sold price and it puts the seller in the driver’s seat by providing more options to choose from.