What happens when a house is priced too high?
Your ultimate outcome
Strategically and correctly pricing a home at the beginning can save the seller a lot of time and money. If your ultimate outcome is to exit with the maximum amount of money from your home, and within your timeline, there are elements that can't be overlooked. Competition, market, condition, buyer pool, broker connections and aggressive strategic selling together determine your results.
Chasing the market
Listings priced too high at the onset could cost you in more ways than one. In most cases overpricing eliminates an important fraction of buyers who would have otherwise seen your home. This usually results in an extended, unnecessary amount of time the home sits on the market.
Pricing is determined by several factors. One of them is dictated by what other similar homes have actually sold for in the area. In order for a home to close, the home must appraise according to the market. Pricing correctly will save obstacles in the appraisal process, escrow process and will directly effect your ultimate desired outcome.
It is especially important that you price your home correctly if you have already moved out and have high overhead and carrying costs. Our primary objective is to exit with the maximum price and within your timeline. Making the right deal is all about strategy and what works for you.