As a seller, overpricing your home is one of the worst things you can do—here’s why.

 

What’s the single biggest reason overpricing your home is a mistake?

That’s easy—it won’t sell. Your home’s days on market is like acid to its sale price. The longer it sits on the market at the wrong price, the less you’ll get for it in the long run. Buyers don’t care about how much money you want to put in your pocket. All they care about is getting a fair market price.

When you overprice your home, what you’re actually doing is helping all the other comparable homes in the area sell. Your home might be gorgeous, but buyers make decisions based on value.

“Your home’s days on market is like acid to its sale price.”

The barometer of your home’s true value is how many interested buyers walk through its front door. How do we know? Whenever our team lists a property for one of our clients, we know that it’s overpriced if we only get one or two showings in the first week. After we adjust the price and start attracting five to 10 showings per week, we know we’re close to getting an offer. If we still don’t get an offer after this period, however, we’ll make another small adjustment.

This is why it’s important to price your home correctly from the get-go when you list it.

If you have any other real estate questions for me or you’re thinking of buying or selling a home soon, don’t hesitate to reach out to me. I’d love to help you.