Tuesday, December 15, 2015 / by Michael Axelrad, GRI
Should You “High Ball” Your Listing Price?
One of the most important decisions you make when selling your home is
setting the listing price. That can be tricky. After all, if you price your
property too low, you leave money on the table perhaps thousands of dollars.
On the other hand, if you price your home too high, many buyers won’t even
bother to see it, believing it is too expensive.
Even with that reality, there are some sellers who contemplate setting a high
listing price in the hopes of a windfall. They want some unsuspecting buyer
to fall in love with the home and buy it even though it’s overpriced.
That rarely, if ever, happens.
Instead, the listing often languishes on the market because its listing price is
conspicuously much higher than its market value. Think about it. If two similar homes,
side by side, are for sale, and one is priced $40,000 higher than the other,
wouldn’t you wonder what was going on? That’s exactl5 ...