Pricing a home right is vital to a successful home sale. Pricing too high or too low can work against the seller so pricing correctly is very important.
Buyers will feel better about your property
If your home is priced too high it will turn buyers off. If your home is priced too low, that also can work against the seller by giving the impression that there is something wrong with the home. Homes that are priced well are likely to make buyers feel more confident about making an offer.
More interest in your home
Some sellers get tempted to list their home for higher than market value in the hopes they may get more for their home. This rationale can be dangerous and may remove your home from the radar of potential buyers. For example, if the market value of your home is $250,000 and you decide to list for $275,000 in the hopes that you may get an offer for that much, your home may be missed by qualified buyers with a budget of $250,000 if they search for homes up to that amount. Pricing a home correctly can mean more interest from qualified buyers.
You could sell faster for more money
Homes that are over priced can turn off buyers from even making an offer because they may think the seller is unreasonable. In a slow market, over priced homes tend to not sell until the seller drops the price. In a healthy market, especially a seller’s market, a well priced home will likely attract more buyers because they will see that it’s a good deal. This could even ignite a bidding war which could drive up the sale price.
The Dawn Dause Group offers a FREE market analysis to help guide you in the correct pricing of your home! Call (815) 954-5050 today to find out what the market value of your home is!