Don’t let seller’s market excitement make you overprice your home.
Some sellers are looking at what nearby homes have sold for and are getting a bit ahead of themselves. If a neighbor sold for $78,000 over list price at $688,000, that doesn’t mean you will be able to sell for $700,000.
This ties back into buyer fatigue. This seller’s market can become unreasonable for buyers at some point. Buyers who come to the table already know they need to offer above asking price to stand out. If you list for $700,000, they’ll think you want $730,000. Oftentimes, this is going to be over what buyers are willing or able to pay, and you won’t be able to sell. The rising days on market for houses shows that sellers are starting to overprice their homes.
Sellers need to have an honest and authentic conversation with their Realtor about a competitive price they should start at. We want your house to sell for top dollar too, but that means it can’t be priced so high that no one will buy it.
If you have any questions, please feel free to reach out.