Comparable Home E: Pending Comparable Home F: $798,000 (New Listing) Comparable Home G: $770,000 (New Listing) Comparable Home H: $795,999 (New Listing)
Tim and Sue now have the highest priced home in the area, in their price range. When a buyer looks at the comparable home prices, it is now the worst value proposition in the marketplace. Most sellers, like Tim and Sue, do not realize they only helped make the other houses look like a bargain. It cannot be stressed enough how important it is for you to price your home right the first time. House D sold, and House E had a pending sale from the start.
WHY DOES THIS STORY MATTER TO YOU?
Moral of the story: Anyone can lose money in the real estate market. Any seller unfamiliar with the market and losing a sale because of incorrect pricing never even realize it. See how important it is to know the true value of your home? But pricing errors happen to private sellers. Knowing the true value of your home protects you from settling for less money than you deserve.
77
Powered by FlippingBook