How does pricing and a good marketing plan affect the selling price?
Sellers always ask me, “How do you price your home?” No matter what the market is like, you should price your home based on the comparable sales around you. The reality is that the price you put on your home doesn’t decide what it sells for; it is actually the market that tells you what your home is actually worth.
In today’s seller’s market, you can’t underprice your home, you can only overprice. If you overprice your home and it doesn’t sell quickly, buyers start wondering what’s wrong with it. Again, you can overprice, but you cannot underprice. Here’s an example. I had a seller who recently listed for $600,000, and my marketing plan made it sell for over $700,000. It was priced comparably to similar homes in the market. However, due to the demand for the house and the competition that was created, we were able to increase the selling price.
In summary, my advice is to always look at the comparables in the market and you cannot underprice your home as long as you have an agent who is aggressively marketing your property.
If you have any questions about how I price homes, reach out to me by phone or email. I look forward to hearing from you.