“Discounted!” “Sale!” “Clearance” I love to shop, and nothing lures me into a store more than these words. Ironically enough, these same words have the OPPOSITE effect on home buyers.

 

In fact, in a study done by Professor John R. Knight on the effects of changing the listing price, he found that properties that change their listing prices often take longer to sell and sell for less than similar properties. Additionally, the bigger the price change, the longer the property stagnates on the market resulting in an even greater price discount. Consequently, the more a seller overprices a property, the greater the risk in having to change the listing price.

 

So, what does this mean for us? This tells us that overpricing your home does NOT help you Sell SMART. We recognize that overpricing your home at the beginning only results in taking longer to sell your home with less net profit for you as well as having to work harder to sell your home. This doesn’t do you any favors. We are committed to helping you Sell SMART, and that includes pricing your house correctly from the start!  

 

Committed to helping you Buy. Sell. Live. SMART,

 

Seth & Alyce