Why Pricing Is So Important
Just the right price is by far the single most important strategy to get the right offers to select the best one for closure. You would never want your home to be used just as a ‘reference house’ for other properties listed fairly and currently available in the market.
There are multiple benefits of pricing the property right:
- The property attracts more buyer’s and eventually the ‘right buyer’ looking in the market.
- The property doesn’t get stale in the market and only used at best for ‘comparisons’.
- Would end up having multiple offers to choose from if the price is fair and arrived rationally.
- The buyer’s agents will be forthcoming to show your property when priced right, as it would have more probability of being considered by their clients.
- Homes tend to sell closer to the asking price in initial few weeks, longer the home sits in the market the buyer’s think that there is something wrong with the property.
Your Real Estate Agent has the task here to do his research and compare the available and past sales in the area to come up with the fair market value of the property. This would also require him looking into the features available/missing in your property to tailor the adjustments and come up with just the right price which will entice buyer’s.