If it’s priced too high, you run the risk of deterring buyers. When that happens, you may have to lower the price to try to reignite interest in your house when it sits on the market for a while. But be aware that a price drop can be seen as a red flag by some buyers who will wonder what that means about the home, resulting in many cases a sale price below market value. To avoid these pitfalls, it's crucial to price your home strategically and correctly from the beginning. A seasoned real estate professional can help you determine the optimal asking price based on market conditions, aiming for the sweet spot known as Market Value increases the likelihood of attracting interested buyers and may even result in multiple offers. Think of pricing your home as a target. Your goal is to aim directly for the center – not too high, not too low, but right at Market Value. Consider the potential drawbacks of over or underpricing your home, and the advantages of pricing it at Market Value, outlined in the chart below:
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