Setting the right price on your home when selling is imperative. You don’t want to leave money on the table, but you also do not want to price your home too high to where it sits and gets zero interest.

Don’t fret or stress about getting the right price for your home. There are methods and experts out there who can ensure you get top dollar on your home sale. 

However, here’s is what can happen in two scenarios when you do not have an agent on your side that can advise you on the “sweet spot” for selling your home.

PRICED TOO LOW?

  1. Decreased Buying Power – Every dollar you lose out on when selling is one less dollar you will have in your pocket to purchase your next home!
  2. Lost Value – You have spent a good amount of time building up your equity in your home. Don’t make the mistake of pricing too low and losing out on all this ground gained, especially in this type of seller’s market.
  3. Deters potential buyers because they think something is wrong – If you price too low, people are going to wonder what kind of hidden issues there are with the home and could skip over viewing it or even making an offer. This is a low probability scenario in our current market.

PRICED TOO HIGH?

  1. Sits on the Market Longer – If you’re priced too high, you run the risk of the home sitting on the market much longer.
  2. Deters Potential Buyers – This narrows your potential market for a buyer of your home therefor potentially missing the highest bidder for your property. Buyers, many who have buyer fatigue in a seller’s market like this one, will likely pass over the home in favor of homes priced at market value.
  3. Price Drops Can Send the Wrong Message – When the home sits for a long time, the likely next step is a price reduction. Price reductions can send the message that there is something wrong with the home, so you don’t want to be stuck in this position if it’s not necessary.

At M&D, we are experts when it comes to setting the right price. We tend to not like to price too high but would rather select just the right amount that will get you multiple offers, likely over the asking price. Again, if you price too high – you risk the home sitting and narrowing your market. If you price too low, you risk the market believing there is something wrong with your home. Hitting the “sweet spot” is all important and ensures you get the most money out of your sell, not leaving any money on the table, and that you create a frenzy for the home as opposed to buyers being wary of viewing your home or making an offer! Need an agent to guide you through the process? M&D Agents are all rated 5-Stars