Pricing Homes Strategy | How to price your home | Houston TX
When sellers price their home too high
If you price your home too high, you will kill the traffic and miss out on the highest number of potential buyers during the first two weeks of the listing. Also known as the most critical time to be on the market. Homes that sit on the market longer than a month typically sell for 6% less than in the first weeks when your listing is fresh and interest is very high.
When sellers price their home at market value
If you price your home at market value, you will likely generate great traffic within the first two weeks and avoid price reductions. You also prevent issues with appraisals down the line. Sellers who price at market value can expect to sell and close to asking price in an average of 21 days, depending on the market.
When sellers price their home below market value
If you price below market value, you will most likely create a huge buzz leading to multiple offers and driving prices higher than market.
While pricing is only one of the many strategies in selling your home, it’s one of the most critical ones. Thinking about putting your home on the market? Contact the Houston Broker Team today to discuss your pricing strategy.
