The Best Kept Secret To Selling Your Home: Why Pricing Your Home Correctly Matters
As a real estate professional in Moncton, NB, I’ve seen many sellers make the mistake of pricing their homes too high or too low. Unfortunately, these pricing errors can lead to a variety of negative consequences, including longer time on market, fewer showings, and even lower selling prices. In this post, I’ll explain why pricing your home correctly is so important and what happens if you don’t.
Why Pricing Your Home Correctly Matters
First and foremost, pricing your home correctly is essential if you want to sell it quickly and for the best possible price. When you price your home too high, you’ll scare off potential buyers who are looking for properties in your price range. These buyers may think that your home is overpriced or that you’re not serious about selling. On the other hand, if you price your home too low, you may attract a lot of interest but end up leaving money on the table. Buyers may assume that there’s something wrong with your home or that you’re desperate to sell quickly.
The key is to find the sweet spot in pricing where you’re attracting the right kind of buyers who will value your home and make competitive offers. A skilled realtor can help you determine this price range based on local market conditions, comparable sales, and other factors.
What Happens If You Price Your Home Too High
If you price your home too high, you may end up sitting on the market for longer than you’d like. Buyers will be hesitant to make an offer on a home that seems overpriced, and you may find yourself lowering your price multiple times just to attract interest. This can lead to frustration, stress, and wasted time and money. Additionally, a home that sits on the market for too long may start to develop a stigma. Buyers may assume that there’s something wrong with it.
What Happens If You Price Your Home Too Low
If you price your home too low, you may attract a lot of interest, but you’ll also leave money on the table. Buyers will assume that there’s something wrong with your home or that you’re desperate to sell quickly. You may end up with multiple offers, but they may all be well below your asking price. Alternatively, you may end up with a lot of interest but no serious offers, which can be frustrating and confusing.
The Bottom Line
Pricing your home correctly is essential if you want to sell it quickly and for the best possible price. By working with a skilled realtor, you can find the sweet spot in pricing that will attract the right kind of buyers and lead to a successful sale. Don’t make the mistake of pricing your home too high or too low – trust the experts to help you get it right.
I’m Jennifer! A local REALTOR® in Moncton, NB. I help people buy, sell, and invest in the beautiful province of New Brunswick. If you or someone you know is thinking of buying or selling, let’s connect! I’d love to be a part of your buying, selling, or investing journey! jennifer@jennifersmithco.ca. I’d be happy to help you understand the local market and determine the best pricing strategy for your unique situation.
For buying or selling info, be sure to check out Jennifer Smith
Also, check out What Do Sellers Look for in an Offer?