Price it RIGHT to Sell in Charlottesville, Virginia or Anywhere

As a Realtor, I am committed to working in the best interest of my clients when they are buying or selling a home. Often, particularly in the kind of market we currently have in Charlottesville, Virginia and elsewhere, that means explaining to my clients how critical it is to price their home correctly from the day it goes on the market. I recently blogged about a post by Lori Lincoln from Nebraska entitled
How To Sell Your Home For Full Market Value by Pricing Under Market ( see below for that post ).

To elaborate on that same point from another perspective, let's take a look at

What happens if you overprice your home?

You will lose the excitement that a new listing generates. Most activity on a listing comes within the first 30 days on the market. An initial high price can discourage buyers, causing you to miss out on pent up demand.

You will lose the most qualified prospects. Buyers are not likely just “make an offer” on your home, because it is probable they will never even see your property: they will tour properties listed within their price range instead.

You will help the competition instead of yourself by demonstrating to potential buyers the good value of other properties.

Your home may become “stale”: the longer a home is on the market, the more people wonder why. There is a tendency to presume that there is something “wrong” with the home even after you lower the price.

If you do get an offer at the higher price, the deal may fall through at appraisal. A lender will not give your buyer their mortgage if they feel the home is overpriced and they cannot justify the loan to value ratio.

All these factors combine to increase your frustration and to ultimately undermine your negotiating position!

Have further questions about pricing your home to sell or anything else to do with Charlottesville Real Estate? Call or email me anytime!

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Amy Bender Webb
Real Estate III
Charlottesville, Virginia
visit me online at A Home in Charlottesville
Licensed to sell real estate in Virginia