FIRST DAY HIGH-PRICE BLUES The most crucial time for your home is the first 10 days on the market. Once your home is on the MLS, you’ll see how much interest is generated. If your price is too high, buyers will pass you by because the home is out of their price range. By the time you decide to lower the price, they will have moved on to other properties. As your home sits on the market, buyers will wonder why the home hasn’t sold, concluding that it’s undesirable in some way, and passing it by without a second glance. Price it correctly initially to generate interest and gain attention from buyers to sell faster. Unrealistic pricing costs money in the long run. TESTING THE MARKET WITH A HIGH PRICE Even if you’re not in a hurry to sell, it’s not a wise move to “test” the market by listing your home at a high price to see how it goes. Serious home shoppers may take months to find a new home, so they are continually looking for new listings, not ones that have been sitting on the market. Thinking that the market will turn in your favor might not prove reliable either. If prices in your area end up dropping instead of rising, you may lose money. By pricing your home based on current market values, you can sell your home more quickly and for more money. PRICE DROPPING Another pricing trap to avoid is insisting on a price for your home far above other homes in the area. If your home doesn’t
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