Importance of pricing

Determining the value of your property is the most important decision to be made prior to marketing your home. A majority of the showings will take place during the first few weeks of the listing period, therefore an accurate listing price is crucial. Pricing the property correctly will usually generate a higher selling price. If the price is too high realtors may not show the property and the home could remain on the market for an extended period of time. Buyers commonly ask: "How long has the property been on the market?" When the answer to that question is more than six months they begin to wonder why the property has not sold. This may result in the buyer making a lower offer than what they would have made if the property were priced right from the beginning.

Creates high expectations
Most buyers will be expecting more and will be disappointed when they compare your home to others that are priced right.

Helps sell competition
Your higher price makes the competition more attractive to buyers.

Loss of qualified buyers
Most buyers are prequalified and only look at homes in their price range. Buyers who qualify for the fair market value of your home may never see it.

Does not appraise
Even if a buyer is found, a lower than sale price appraisal can result in the lender rejecting the loan.