Sellers' BIG Mistake
Mr. & Mrs. Home Seller: "Can't we try it at a higher price for just a few weeks?"
Many sellers think that an overpriced property simply can be reduced if it doesn’t sell. The danger with this is that by the time the property is finally reduced to its market value, it may have been on the market so long that buyers perceive it to be a tainted property.
Buyers then question how long the home has been on the market and why it hasn’t sold. Their offer to purchase, based on that knowledge, may be below its actual value.
Sales agents are constantly on the alert for new properties to show to their active, qualified buyers. As a result, the majority of showings by sales agents on a new listing occurs when the house is first placed on the market.
Once this group of agents and buyers has seen the property, showing activity decreases to only those buyers new to the market.
Therefore, it is crucial to position your home at the best price during the first market exposure.