Hanging the wrong price tag on a home is by far the worthless home selling mistake a seller can make. Buyers won’t look at a home if it is priced too high. Sellers worry that they’ll give away profits once it’s priced too low.
It is truly a form of art when pricing a home to sell. There are other factors to consider including the movement of the market, demand, the location of the home and its state, however, part of the market value is from comparable sales.
Buyers might submit lowball offers, which tend to result in an immediate offer rejection once the home is overpriced. It tends to annoy and insult sellers by these extremely low offers.
Deliberately overstate the value of a home and push a seller to sign an overpriced listing is being done by some agents. There are many reasons why agents do this. The reality is that sellers suffer a competitive edge when reducing the price in the later part.
Estimate a Listed Price for Sellers by Real Estate Agents
At times, real estate agents will inquire how much other agents have recommended, and then that agent will lump up the price to emerge as a more attractive choice to the seller. When choosing an agent, do not choose one that is based on the highest sales price. When choosing an agent, base it on integrity, knowledge, experience, and ability to sell your home and avoiding significant drama.
Real Estate Agents could provide you with a variety of sales prices:
- The home price should be listed for on the market.
- What price an appraiser will utilize and on which a bank will loan.
- The offered sales price of a buyer.
It is not necessarily the price at which it will sell is one important thing to establish a price that will attract a buyer to view your home in person. When picking the right sales price, nothing else matters and should only be from the comparable sales, and market movement.
A seller might need to wait until the market falls in line if the market does not meet the seller’s surmise.