You always want to keep as much money as possible when selling a home. You would think the best way would to set the value high at first thing you can always come down later.
But setting the price too high frequently yields the owner a lot less money than originally intended. How exactly does this happen? Because people searching for property inside your price range will deny your property in favor of other property in a reasonable price range.
And here's the clincher: Realtors who would normally show buyer your property will instead cross it off their showing schedule because it's priced higher. Realtors won't show homes priced too high because they work by commission. They grasp market values because it's their job to know and not waste time.
So pricing your home too high, thinking you can always reduce it later. The real problem actually is, the home buying population doesn't look at it that way After a few months in, a couple open houses, directional signs to provoke drive by's, Tours and showcases and no bites. So again you lower your price. But It's too late, you have been branded by the realtor community.
As a final point, to be able to attract attention back to your home, you have now effectively lowered your price more than what you thought that you ever would, now you are going to get a lot less than if you had priced it right at first. And consider this: the money you lost isn't just the lower sales price, but even more interest paid on your mortgage...all of the additional property taxes and carrying costs that accrue while your home is on the market. I have seen it again and again!
Pricing too high always increases time to sell and multiplies your costs.
Unlike the majority of realtors who will reference you with an exaggerated value just to get you to sign the listing, a good realtor will shoot straight with you and tell what the price should be to sell in the time allotted.
Ø what you can do to calibrate the asking price to maximize exposure and a profitable sale...
Ø How do you really identify and associate marketplace value between homes?
Ø How to defend yourself from crime when selling your house...
Ø How to work with buyers during a property showing to get the highest price.
When you recognize these essential issues, you'll recognize how to price your home for the fastest, most profitable sale. Also, with this information, you won't ever overpay for a residential home again.
About Author / Additional Info:
To read more articles on Fairbanks Realty go to http://fairbanksrealtors.com/how-can-price-home-competitively-ensure-sells-time. On This site Ray also has video interviews that he has done. To see these videos start here at http://fairbanksrealtors.com