Reply to Houses that sell over asking were priced wrong to begin with

Forum Index » Real Estate

Reply to "Houses that sell over asking were priced wrong to begin with "

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]I am always happier to price the houses I sell high and reduce one time if I need to.  Besides, these ridiculous stories posted here about houses going 100k over asking are absurd.  Houses that are priced too high sometimes won’t appraise![/quote]

Let me guess, you've never sold a house have you?

When you price high, you limit your buyer pool, e.g. fewer people will choose to even walk-through your house.  You'll have fewer people bidding on the house.  And it will stay on the market longer to find a buyer who will bid on the house.  As the DOM climbs and the house sits, people start to wonder what is wrong with the house.  Some will write it off and not want to chance it.  Then when you have to drop the price, many buyers will "know" that there is something wrong with the house and you'll lose even more buyers.

One goal is to price is in the middle, not too high, not too low.  This works best when you are in a modest to less desirable location.
Another is to price it slightly undermarket to try to get more eyes on the property and also induce a bidding war.  This works best when you are in a desirable location.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics