Price It Right

[Antwaun Sumpter]

Buyers will always look for lower comparable sales or current listings to justify making

an offer below your asking price. Knowing this as a seller, you have to give your buyers incentive and motivation to quickly reach your asking price. Don’t start out with the highest asking price on the street – you should be in line or slightly below market value and create immediate demand.

Keep in mind that just because you price your home low, it doesn’t mean you’re going to lose money on it. Many agents will use this strategy to entice multiple offers, which can
then push the price higher. Typically, it’s recommended that you price your home just below comparable homes on the market. If your asking price is too high and you can’t sell, then you may end up making more incremental price drops and could risk seeming desperate.

Does this strategy always produce a higher sale? No. Some potential buyers may look for reasons to justify the low asking price. They may think something is wrong with the home or the neighborhood. Remember, each house and each buyer is different. However, if you want to sell your home fast, putting a steep price tag on your property certainly won’t help. Pricing low will speed up the sale in most any market.