Here are a few things anyone considering selling their home should keep in mind when establishing a listing price.
- As a Realtor® I would never publicly say your listing is overpriced but I do say it the people that matter - clients! The fact is, if it is overpriced, it likely will never come up in any conversation let alone be a serious consideration.
- If your home has been on the market for more than a few days you (your real estate agent) must continuously monitor market activity. New listings appear every day as well as homes go under contract. Your competition is not static!
- If a price reduction is required, make it meaningful. The fact is sometimes we are more optimistic than we should have been at the time of listing.