As Tempting As It Can Be To Overprice Your House, Don’t. Read On To Find Out Why

When you’re selling your house, and are trying to come up with the list price, please resist the urge to overprice your house. Of course you want to get the most you can for your home. Most sellers aren’t just trying to break even on what they paid for it. Many times, homes increase in value, and chances are yours has too.

You’ve got to take emotion out of the equation when pricing the house. If you charge too much initially, it’s going to sit on the market for too long and buyers will notice. They’re going to think somethings wrong with the house, and start looking at other ones. The best strategy is to price the home lower than it’s worth, and then a bidding war usually starts (if your house is desirable). This can be a scary tactic for a seller. But it has a likelier chance of working than the first option. Plus, you’re never required to accept an offer, so it doesn’t hurt to try that method. See: Why Overpricing a Home Creates Damaging Effects.

Both you and your agent should agree on the price. You also should listen to him if he’s telling you that you’re charging too much for your house. They have no reason to lie.

They don’t get paid unless your home sells, so they’re on your side. They’re only trying to make sure that you both get the house sold and get paid. Make sure that your realtor knows how to market the home on the internet. you want a tech-savvy realtor.

Your home is also going to need some work done to it. No house is perfect. Even if you think your home is ready to sell and photograph right this second when you haven’t done anything to it, you’re wrong. You’ve got to clean, spruce up the yard, and do some minor repairs; and stage.

Staged homes sell for more (fact). Realize that selling a house will take time, it’s not going to happen overnight. Even when you find a buyer, you’ve got to do a lot of waiting. They have to get a loan, the house has to go under contract, there must be an inspection. There are lots of things to work out.

 

When you decide to list, walk around your house and be honest with yourself. Do your walls need freshening up? Make any and all improvements. Lastly, do not forget to update your curb appeal, which is the number one selling point to a house. Check out this article that explains Why Sellers Overprice Their Homes.

One comment on “As Tempting As It Can Be To Overprice Your House, Don’t. Read On To Find Out Why
  1. Cathy says:

    Resist overpricing it. I didn’t. It took me a really long time to sell my house. Once it sits on the market past a month, I promise you’re going to have trouble selling it, and likely, you’ll end up getting less for it.

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