Don’t Lose Buyers By Overpricing Your Fountain Hills Home

The best thing you can do when listing your Fountain Hills home  for sale is trying to see it through the eyes of a buyer. Selling your home is emotional after all it is your home and you love it and you think buyers are going to love it the same way.  Show off the qualities that attracted you to the home whether it be the view, pool , large kitchen, etc. Get your home in tip top shape and set it at a realistic price for the current market conditions.

Don’t overprice your home, it will be an immediate turnoff. Buyers have a pretty good idea what the competition is and the fact that other houses look like better deals and move on. If they see 10 homes your house is being compared 10 times. Very few buyers think to themselves, “The price may be on the high side, but I can negotiate the seller down.” Instead, they think, “why deal with a home which seems to be overpriced when I can deal with a more realistic buyer down the street:”

Another problem with overpricing your home is that, it will probably will not receive offers and eventually go stale on the market then buyers will move on to the latest new listings. Even buyers who are just entering the market will look at your house and wonder why it is still on the market. I know as an agent that if a seller is listed too high, they are not usually ready to accept a low offer which may be a more realistic price.  Unfortunately for those seller, they will end up having to reduce their price to bring buyers and their agents back to your door. Once a buyer feels your home is  overpriced, many don’t return, they are long gone to the next house, You only have one chance to make a good first impression! Price right, negotiate less!

So, at the very least, make sure to set your initial list price at a realistic number given the market. Settling at a competitive price  can be an important and effective way to bring in home buyers.

Underprice For a Quick Sale

A different strategy is pricing your home even lower than the active competitive listings. This will most likely result in a quick sale. Buyers often search in their price range in $25,000 increments  and websites of home listings ask people to define their searches using these cutoffs as well. So if you think your house is worth $460,000, but you list it at $449,000, you may bring in a whole group of buyers who wouldn’t have even thought  twice about it.

There are two good reasons for this strategy. The first is that home buyers may be looking in the 550,000- 575,000 range and your home will seem like a real value to them. The second reason is that, regardless of your list price, buyers will make their own decision of what your house is worth. The market tends to correct for underpricing, as buyers compete against each other and drive the price up with possible multiple offers.

Are you looking for an expereince Fountain Hills Realtor to help you with the sale of your home? Call/Text 480 888 6708 or email me for quick answers to your questions!

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