5 Ways Overpricing Your Home Hurts Your Home Selling Chances
Studies show that the longer a property stays on the market, the less the seller will net upon the sale. That’s all the more reason to make sure you are properly pricing your Prescott home to sell. The current real estate market is so competitive that even overpricing by a few thousand dollars could mean the difference between a quick home sell and a home that stays on the market longer. Or doesn’t sell at all! Here are 5 ways overpricing your home hurts your home selling chances.
1.) Over pricing your home minimizes the number of offers you receive because it’s not priced comparable to the current market.
2.) Over pricing your for-sale home limits qualified buyers from purchasing your home, because it’s priced out of their budget.
3.) When you overprice your home, it wastes advertising dollars, because you’re losing money when you advertise a home that’s priced too high. Your home stays listed longer with continual price reductions and additional advertising time.
4.) Over pricing your home lowers prospects, because potential buyers choose not to view a home priced higher than the rest of the neighborhood.
5.) Less prospects means less showings when you overprice your for-sale home. The less people who see your home for sale, the less likely you are to sell it within that seven-week window.
Is your home priced to sell? It’s time to find out! Contact Crystal Creek Homes and Realty today. Or if you’re interested in building a custom home here in Prescott, please contact us today!
Crystal Creek Builders