The biggest question most homesellers ask is how to price their home.

Only you know how your home truly compares to others that are selling and not selling in the marketplace, however, there are some agent observations that it can be helpful to know when pricing a home.

The single biggest reason that homes don't sell is that they are priced too high. Often sellers want to list their home for the stretch amount to see if they can get it. While they do sometimes get it, it will often also turn off buyers that might have been convinced to go higher once seeing the home. Listing a home at the top end of the value range means that your photos must be really really good.

On the other hand, consider what happens to homes priced a touch low: they look like a great deal. This means that more people show up to see the home. It also means that more people put in bids, and it can mean a bidding war.  

In a strong market, a home that is priced a bit low usually ends up selling for what it is worth or more, even though the starting price was lower, because buyers start to compete for it. It is rare for a home that is priced too low not to sell for what it is worth in a market where homes are moving.

On the other hand, a home that is priced too high can keep those who would have paid that higher price away because it wasn't worth looking at. We always recommend to list your home at just a bit low and then be pleasantly surprised it if sells for more.

Listing your home too high is the riskiest thing that a home seller can do.

Did this answer your question?