• Fewer buyers are attracted, and fewer offers are received.
  • Marketing is prolonged, and initial marketing momentum is lost.
  • The property attracts "lookers" and helps competing houses look better by comparison.
  • If a property does sell above true market value, it may not appraise, and the buyers may not be able to secure a loan.
  • The property may eventually sell below market value.

 

Summary: As your asking price decreases, the number of buyers who will view your property increases. If you are trying to sell your property in a tough real estate market (high inventory, low demand), consider pricing it at 10% to 15% below comparable properties. It is better to price your house competitively initially rather than gradually reducing the price later because a property receives more attention when it first lists on the market.

What our customers think...

You and your staff provided the best support and guidance I could have hoped to receive. From your recommendations for contractors to your quick identification of a buyer, the process of repairing and marketing the property could not have gone smoother. I am so grateful to you for the incredibly short time the house was on the market - less than one week! It is obvious, as it always has been, that you know your market and maintain the best "prospects" list in the area.

Your Client for Life,
Cathy Tatman