Benefits of Realistic Pricing
Why not just price your home as high as you think you possibly can?
The chart below, from the National Association of Realtors, shows your likelihood of selling at different market values:
Realistic pricing means you will:
Overpricing your home could also make it difficult for a buyer to finance. 99% of all homes are financed. If you overprice your home, a buyer may be denied financing because the appraisal will come in too low to justify the loan.
The chart below, from the National Association of Realtors, shows your likelihood of selling at different market values:
Price % Above Market Value |
Percent of Homes Sold |
|
+15% | 20% | |
+10% | 30% | |
Priced at market | 60% | |
-10% | 75% | |
-15% | 90% |
- Capitalize on the first few weeks of high activity and interest.
- Attract more prospects.
- Increase the likelihood of receiving higher offers.
- Minimize the inconvenience of keeping your home ready to show.
- Accomplish a faster sale.
Overpricing your home could also make it difficult for a buyer to finance. 99% of all homes are financed. If you overprice your home, a buyer may be denied financing because the appraisal will come in too low to justify the loan.