Why Is Proper Pricing Crucial When Selling?

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Recently, someone came to us and asked why asking price is so important when selling. This is a great question, and a crucial one for home sellers to think about.

In today's competitive marketplace, if a home is on the market for too long, it gets stale. Right now, the average days on market sits at 45 days - by the time a home has been on the market for 60 days or so, people start to wonder whether there is something wrong with it. This can have severe consequences.

If the initial asking price of your home is too high, you will drive buyers away who would otherwise be very interested in your home. As the days on market grow, you'll probably have to bring down your listing price. However, even if you lower the price to something more reasonable, the home will still have trouble selling because it has high days on market.

Bottom line: if you overprice your home, you take it right out of the market. You need to get a thorough evaluation of your home so you can put the right price on it and attract the highest volume of buyers.

If you have any questions about pricing or if you need real estate assistance of any kind, don't hesitate to give us a call or shoot us a quick email. We would love to hear from you!