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Friday, January 31, 2014

Home Seller Tips: Overpricing, Underpricing

Can a seller overprice a property?  Duhh....rhetorical question here.

Can a seller under price a property?  Of course.

Image courtesy of Stuart Miles /
If a seller decides to attract attention and get an offer quickly and lists their home at a price below market, what is the response from prospective buyers?

First, what is wrong?

Selling a home requires a strategy.   Pricing under the market is a strategy that few sellers attempt

Pricing under the market may encourage multiple offers.  And perhaps some sellers think they must accept an offer at their list price.

Must a seller take a full price offer?  No seller can be compelled to accept any offer.  

There is absolutely nothing wrong with pricing low, attracting a lot of early, intense interest and receiving multiple offers.

The market sets the price, ultimately, regardless of the list price.

Sellers can price above the market and get no offers.  They can price just above the market to attract a let's talk offer.  Of they may choose to price below the market.

It all comes down to the seller's strategy.  A strategy that considers the competition and seller goals.  Your real estate agent must be able to show you the numbers – what is selling, what is sitting, and what has expired in your area/neighborhood.

When you are ready to sell your Viera, Florida home, please give me a call for a free market analysis.

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