interest and capture the attention of buyers for a quicker sale. Setting unrealistic prices ultimately leads to financial loss. I have witnessed this happen repeatedly.
Un-rushed High Pricing
Even if you’re not in a hurry to sell, testing the market by listing your home at a high price to “see how it goes" isn’t a wise move. Serious home shoppers may spend months searching for a new home. They are constantly seeking NEW listings, not ones that have been sitting on the market. Believing that the market will turn in your favor may not be a reliable strategy, either. If prices in your area are declining, you could end up losing money. By pricing your home according to current market values, you can sell it more quickly and for a better price.
Price Dropping
Another pricing trap to avoid is setting your home’s price significantly higher than comparable properties in the area, intending to lower it if it doesn’t sell within three months. This strategy may work in a stable or rising market. However, if the market in your area is declining, you might have to reduce the price even more drastically to align with the falling market. Price competitively from the start. Don't hesitate to reassess your local market. Collaborate with your real estate agent to establish the fair market value of your home.
OTHER SELLERS’ MISTAKES
Here's a list of "don'ts" for selling your home:
Entering a contract to sell your home before qualifying to purchase another can be problematic. Your financial situation may have changed since your last purchase, and you might not
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