How to price your home with confidence

The reason you need an accurate list price is to avoid the overpricing trap.

Here’s how the overpricing trap happens.

Step by step:

1. You set a high list price (above ‘Market Value’) hoping to attract a high offer.
2. No offers come in, so you sit and wait.
3. While you wait, your overpriced home helps make more competitively priced property look better value for money – you actually help others to sell before you!
4. Eventually you give in and make a small price reduction. You wait but it does nothing, so you reduce the price again. You repeat this process until you reach the point where your property is priced at ‘Market Value’. Now it should sell but it doesn’t.
5. The problem is because so much time has passed, and the property has been so overexposed to the market, it’s become a ‘stale listing’.
6. Buyers start to think “What’s wrong with this property?”  – They have lost confidence your home is a ‘good buy’ and continue to stay away.
7. To generate offers you have to reduce your price below ‘Market Value’ to counteract the negative stigma now attached to your home.
8. As counterintuitive as it seems, properties initially priced above ‘Market Value’ tend to sell for less than if their original prices had looked more attractive to buyers.

End result = You undersell & lose thousands of dollars

Many sellers have to live in denial about this and are forced to tell themselves there’s no way such a struggle could have resulted in anything other than the best possible price being achieved.

That’s a horrible fate that we will help you avoid.