What Are The Benefits of Properly Pricing My Home vs. Overpricing?
Benefits of Properly Pricing Your Home:
Faster Sale: The proper price gets a faster sale, which means you save on mortgage payments, taxes, insurance and other carrying costs.
Less Inconvenience: As you may know, it tales a lot more time and energy to prepare your home for showings, keeping the property clean, making arrangements for the pets and children and generally altering your lifestyle. Proper pricing shortens market time.
Increased Salesperson Response: When salespeople are excited about a property and it's price, they make special efforts to contact all of their potential buyers and show property whenever possible.
Exposure to More Prospects: Pricing at market value will open your home up to more people who can afford it.
Better Response From Advertising: Buyer inquiry calls more readily converted into showing appointments when the price is not a deterrent.
Higher Offers: When a property is priced right, buyers are much less likely to make a low offer, for fear of losing out on a great value.
More Money To The Sellers: When a property is priced right, the excitement of the market produces a higher sales price in less time. You NET more due to the higher sales price and lower carrying costs.
Drawbacks of Over-Pricing Your Home:
Reduced Activity: Agents won't show the property if they feel the price if too high.
Lower Advertising Response: Buyer excitement will be with other properties that offer a better value.
Loss of Interested Buyers: The property will seem inferior in amenities to other properties in the same price range that are priced correctly.
Attracts The Wrong Prospects: Serious buyers will feel that they should be getting more for their money.
Helps The Competition: The higher price will make other homes look like a deal.
Eliminates Offers: Since a fairly priced offer will be lower than asking price and may insult the seller, many buyers will just move on to another property.
Causes Appraisal Problems: Appraisers must base their value on what comparable properties have sold for.
Lower Net Proceeds: Most of the time an overpriced property will eventually end up selling for less than if it has been properly priced to begin with, not to mention the extra carrying costs.
As your Pittsburgh Pennsylvania Home Selling Specialists, we realize you are in the information gathering stage of your Home Sale or Purchase and we respect your privacy. Please feel free to contact us if you have any questions. If you, or anyone you know, is looking to buy or sell a home, please note that we can provide detailed information and access to any home for sale in the Pittsburgh Real Estate Market.
You can count on Kevin Shaner and His Team to provide you with information you can trust. To schedule your free home selling consultation and your Free Home Evaluation, please contact us now. Once your property is ready for sale, we will market your home with the primary goal of selling it quickly, and for its maximum value.