Why does pricing matter in a unique, high value / low inventory sellers market? Pricing the home is always important, you only get one shot at a first impression. The choice is always yours to make based upon your objectives.
Take a listen as we discuss the pros and cons of pricing with room to escalate or pricing high out of the gate to sell in an inventory starved sellers market. It always comes down to your objectives with regards to what makes up a strong offer to you and that is different for everyone. Remember you only get one shot at a first impression, make it count. Here are a few things discussed in the video to consider:
- 0 offers or many offers – This provides choice and let’s the market escalate the price. Starting high eliminates buyers searching at the cusp of a price set high. Let the market escalate to the value they believe the home carries.
- Value – Is the offer the best value for the home in this market? Is there still money on the table? That is your decision to make. The market will tell you the value of the home and you can choose whether to accept the offer or not.
- Time on market – Will the home go under contract during the average for the market? By starting high, the home can sit on the market and devalue your equity as the listing goes stale. You get one opportunity to be at the top of the search list, take advantage of that opportunity.
- Working relationship – Who will be easiest to work with and do you have choice in the decision? By letting the market tell you the value of the home and drawing multiple offers, you will have choice in what is the strongest offer and most likely to achieve the goal of closing.
- Risk to Close – Knowing that the buyer will make it to the closing table. The fewer offers, the less choice you have and loss of your advantage in the negotiation.
Take a listen to the discussion on Pricing Your Home to Sell instead of Going Stale!
Just because the market favors the seller so significantly in this market, does not mean marketing is not required. Leveraging a good pricing strategy can yield the highest reward for your significant asset. It is your decision to make what that yield should be.
I look forward to supporting you soon!