Attention Sellers - Tempted to Price it High? - Just Not The First 2 Weeks!

Attention all home sellers - we want to help you sell your home for the best possible price. We know you want that, too. The problem can lie between the realistic "highest price" and the unattainable "highest price". It's important to pay close attention to the recommendations of your real estate professional if they've done a thorough and complete job of preparing pricing information for you home. Here's a chart I've used to help sellers understand the importance of pricing properly for the market. As you can see, we tend to have the most buyer activity during the first 2-3 weeks on the market. If a house isn't priced right for the market, it may be overlooked by the appropriate buyers (because it's too high) and seen only by buyers who are actually comparing your home to others with features seen in a higher price range (the range you chose).

Now, no one has a crystal ball to price with complete perfection, and the shifting market has caused some homes sellers and agents to change previous pricing, but sellers, please do not give in to the temptation to price higher than you should for your market.

The unfortunate truth is that the home that is priced too high from the beginning of the marketing period will be on the market longer and will most often result in a lower selling price than if it had been priced appropriately (or adjusted quickly) from the start.

If you're looking to sell your home in the Owatonna area, Owatonna Real Estate Pros will be glad to help you determine the best price, and provide you with a comprehensive marketing plan (which includes all listings posted to www.localism.com and my Active Rain blog). As always, you can reach me at ljohnson@owatonnahome and Chad at chacker@owatonnahome.com for attention to your real estate needs.

All information is property of Lynn Johnson, CRS, GRI, MBA, Broker/Owner - Owatonna Real Estate Pros of Coldwell Banker Home Connection, Owatonna, MN