Dec 12, 2012
After all, if it’s too high, you may scare away qualified and interested home buyers. And if it’s too low, you may lose out on your hard earned equity.
Setting the right list price is more of an art than a science. But there are some telltale signs that you’ve set it just right.
Wake County, NC Homes for Sale
Here’s the best case scenario for when you set the perfect price on your Wake County home:
- You quickly sell your home and with little hassle
- You have plenty of showings scheduled – which gives your home exposure
- A good number of real estate agents call you to inquire about the home for their Wake County home buyers
- Your home never becomes stale on the Wake County real estate market
- Your sales price and asking price are nearly identical
Unfortunately, a lot of Wake County home sellers fall into the trap of overpricing their homes.
While we understand how precious their home is to them, sellers should avoid the temptation to overprice their home.
But oftentimes, the seller feels justified for overpricing the home. Here are some common reasons for why Wake County home sellers overprice their home:
- They’ve added a lot of upgrades to their home and overestimate how much value those things have added to their property
- They feel their original purchase price was too high and thus are trying to compensate for those losses
- They want wiggle room for negotiations.
As your Wake County REALTOR, I can tell you that it’s best to set the right price on your home from the get-go.
Otherwise, you risk these consequences when you set your home price too high:
- You miss buyers who are searching in your home’s price range because you’ve priced your home out of that bracket
- You may not get an offer within the first few weeks of putting your home on the market, thus rendering your home stale on the Wake County real estate market.
- Since buyers avoid purchasing homes that have languished on the market because they think there’s something wrong with the home, your home may sit on the market for an indefinite period.
- You ultimately are forced to reduce the price hoping that will re-energize buyer interest in your home. However, this may not work because buyers are more attracted to “Just listing” notices than “Recently reduced”
- Throughout this entire process, you may end up helping your neighbor sell their home before you sell yours because their reasonably priced home looks like a deal next to your overpriced one.
Your Dedicated Wake County REALTOR
Like I said before, setting the right list price is more of an art than a science. So for expert help in determining the right price for your home that’s going to help it sell quickly, please contact me, Rachel Kendall and my team of Wake County REALTORS.
While you’re at it, I encourage you to take a few moments to browse some of my online home-selling resources, which may prove helpful to you as well. These include: