Few singular decisions can affect your real estate experience as much as your listing price. The listing price not only sets buyers expectations (the higher the listing price, the higher the expectations), but it also plays a huge part in the amount of exposure that the listing will receive. Most active buyers have a property search set up through their agent which sends them new listings as soon as they hit the market. If you over price your listing, there's a greater chance that the listing is overlooked by buyers and then ultimately forgotten about because there's always new listings coming on the market. The only way to combat this issue is via a price reduction which is never something a seller is happy to do. I completely understand why sellers have the urge to list their homes on the higher side, I mean, who wouldn't want more money? This feeling is usually reinforced by a friend or neighbor who can't stop talking about how their house sold for way over asking price. The best tactic to avoid this all to common pitfall, would be to simply list the property slightly under market value. This typically promotes a higher number of offers which can lead to a bidding war, both of which can fuel over asking price offers that could net higher proceeds than if you listed the property on the higher end of the reccomended price range. |