Listen to Your Realtor About Pricing
Listen to Your Realtor About Pricing
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How Pricing Your Home Right Makes a Big Difference
The pending sales numbers from Saturday, July 15 through July 24th are amazing.
In the 4 county area, 551 single-family homes were marked pending in the CincyMLS
The average Days on Market (DOM) during the week is 18. The median number of days is 4. And the number skews how fast homes are selling- the maximum DOM is 452 in this group
The analogy I love to use is the tv show “The Price Is Right,”. The only way to win the game is to be the one to correctly guess the price of the item up for bid without going over. That means your guess must be just slightly under the retail price.
When it comes to pricing your home, setting it at or slightly below market value will increase the visibility of your listing and drive more buyers your way. This strategy increases the number of buyers who will see your home in their search process. Why? When potential buyers look at your listing and see an excellent price for a fantastic home, they will probably want to take a closer look.
This means more buyers are going to be excited about your house and more apt to make an offer.
When this happens, you’re more likely to set up a scenario with multiple offers, potential bidding wars, and the ability to drive a higher final sale price. At the end of the day, even when inventory is tight, pricing it right – or pricing it to sell immediately – makes a big difference.
Realtors® come to a listing appointment with the latest sales data. What a neighbor’s home sold for in 2022 is not relevant. Sellers often feel it’s safe to try a higher price and then lower the price when buyers don’t bite.
Bottom Line
If you’re thinking about selling your home this year, let’s get together so you have a professional on your side to help you properly price your home and maximize demand from the start. Contact
