Overpricing Risk when Selling Real Estate
One of the most important considerations when selling real estate is establishing the original listing price. Pricing is very critical to attract potential buyers for the current market conditions, while buyers are better informed and price sensitive.
Pricing right your property will help attract the most potential buyers
A property that is priced over the market can often discourage buyers who are serious about finding a property. Buyers are often very knowledgeable in their price range and purchase by comparison. Excessive asking prices are an instant turn-off.
On the other hand, if your home is priced too high, you will help your competition sell their homes first. If the property is under-priced, it will sell quickly decreasing your net proceeds.
Our real estate professionals can make a free Comparative Market Analysis so you can find out how much your home may be worth in today's real estate market. Contact us!
Another consideration you should be aware of is the selling activity. Pricing well your property from the start will produce more activity among potential buyers. The showings during the first two weeks are the greatest if the property is priced at a fair market value.
If your price is too high, you will miss the initial enthusiasm of the potential buyers. If you drop the price after this period will never produce as much activity.
Selling your property in Boca Raton or surrounding areas?
Search the MLS listings in Boca Raton, Delray Beach MLS, Highland Beach MLS, Hillsboro Beach MLS, Lighthouse Point MLS or Parkland by price range; search our regional MLS system to find the latest properties listed for sale; or tell us what your needs are, your budget, and where you'd like to live. We'll get back to you with a detailed list of properties you would expect from experienced Realtors®.