My client: "Should we price it high to see what happens?"
My answer: I can already tell you what's going to happen...
You’ve got 3 options when it comes to pricing your home for the market: above, at, or under market value.
I know pricing it high can be tempting, but keep in mind these pros and cons for each option:
Above market value:
+ If you have to receive a certain amount for the home
- It will take longer to sell
- The more days it's on the market, the worse it looks to prospects
- The home may not appraise by the buyer's lender, back to negotiations
At market value:
+ No appraisal issues
+ Buyers and agents will recognize a fair price
+ Will appear on more relevant buyer searches
Under market value:
+ The home will receive high interest and a quick sale
+ You may get a multiple offer scenario, which may include offers higher than asking price
- Risk of having to sell at a lower price than market value
If you'd like to see recent stats on homes like yours, just say the word. Pretty sure you'll come to the same conclusion as I did — pricing just under/at market is the way to go!
Cindy Grenier, 204-330-2567
