CHAPTER 2 Does Listing Price Matter? Are you tired of hearing that your home didn't sell because it was "overpriced"? Most people assume that an unsold home was priced too high, but in reality, that's often not the case. The common misconception is that homes linger on the market primarily due to pricing, when in fact, it's often inadequate marketing that's to blame. Selling a property at its full market value is no simple feat. Buyers are always on the lookout for a bargain, armed with a wealth of information at their fingertips. While you may need to negotiate the price with a potential buyer, effective marketing can entice them to offer the full asking price.
Consider this example:
John attempted to sell his house, initially listing it at $499,900. He enlisted the services of a reputable agent who made a commendable effort to market his home. The property was showcased with high-quality photographs, and the marketing campaign was top-notch, encompassing extensive online and print advertising, as well as an open house event. However, despite these efforts, the property failed to attract a buyer. John's agent suggested a price adjustment since most similar homes in the area were priced between $400,000 and $450,000. The agent recommended reducing the price to $450,000. 3
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