It may be tempting to set a high price for your home and attempt to beat the market. However, the soundest strategy is to price your home correctly from the start. Here are a few reasons why:
1. Buyers are always looking for the newest listings. The most activity – and the highest and best offers – typically come in the first 21 days a home is on the market. So if you overprice your home and then reduce the price, you lose precious time as well as the excitement that a new listing generates.
2. A house takes on a reputation fast. Even after you lower the price, prospective buyers may be wary, wondering why your home has been on the market so long. You have lost a strong negotiating position and, in the end, may even have to settle for less than market value. That’s why it is so important to make the most of your entry into the market.
3. The higher your home is priced, the fewer qualified prospects you will attract. Buyers compare houses. They are looking for the home with the most amenities at the best price. But instead of making an offer on your home, these buyers are out viewing other that they perceive to fall within their price range. by overpricing, you are actually helping to sell other, more competitively priced homes. You are highlighting their value at your own expense.
4. A disparity between your asking price and your home’s appraisal value can quickly become a deal-breaker. We must be able to defend your price to the appraiser, and the lender must be able to justify it to the market. If your home’s appraisal value is lower than your asking rice, your buyer could back out at the last minute.
Pricing your home correctly is essential to your home selling success. Contact us today for a free evaluation of your home and today’s market.
If you are looking to buy or sell a property in New Albany, Gahanna, Blacklick, Westerville, or another Central Ohio community, please contact The Raines Group. We offer professional real estate advice and are happy to help you achieve your real estate goals. Please contact us today via our online contact form or by calling The Raines Group at 614-418-7417.

















