Rule number one in the current market is NOT to start out overpricing your home just to “see what happens”—you will only reach 10% of the buyers. Buyers are shopping price. They want a good deal.
For example, if you list your house 15% over market value than you are attracting only 10% of the buyers. If you ask 10% above market value you open it up to 30% of the pool of buyers.
Pricing it at market value in this market still only attracts 60% of the buyers. It is not until you begin to price it under market value that you will see higher activity and traffic through your property. 10% under market value typically yields interest from 75% of the buyers out there and 15% under market value widens your target market of buyers to 90%!!!
So, what should you list your house at?....Obtain the current market value from your Realtor, then price it at least 10% under that value to receive an offer faster and possibly multiple offers. You can create competition at the right price. Good luck!!
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