You don’t have to take our word for it. Just take a look at the numbers. Homes that go through a price reduction spend nearly two months longer on the market and sell for around 10% less than homes without price reductions. That’s a significant difference, and another reminder to price your home to sell, not to shock.
Even in a sellers’ market, savvy buyers are always hunting for opportunity. Price reductions are like chum on the water and could lead to a loss of hundreds of thousands of dollars on the sale. So how can you get the price you want?
Like the saying goes, there’s no second chance to make a first impression. Get your home in tip-top shape to show it in the best possible light. A fresh paint job, window cleaning, and flooring refinish can turn ho-hum into yahoo! But nobody will appreciate all your work without a comprehensive marketing plan. Back up a targeted email and social media campaign with old school mailers to cover all your bases.
Don’t let an agent tell you what you want to hear. Sometimes, they’re just looking for a pay day, and it’s not just unethical, it’s also against the law. Hire an agent who knows how to negotiate effectively on your behalf and successfully manage the disclosure due diligence processes. It’s also critical to find someone who knows the numbers. Local comps and market conditions are your best bet for finding the right price the first time.
