Pricing your home to sell vs. Pricing your home to negotiate

On average, a home priced too high will sit on the market longer. The longer a home sits on the market, the less appealing it often becomes to buyers. This is because the longer a home is on market, the more a potential buyer might begin to believe there is something wrong with the home. The goal is to market the property at the right price from the start, and the price point should cause demand.

When you price your home to sell, that’s exactly what happens. Our marketing strategies go to work generating interest, showings, and then of course offers. We lovingly refer to pricing your home to negotiate as "the old fashioned way." Following this outdated method may cause your home to sit without any showings, and certainly without any offers because buyers are out buying homes that are priced properly.

A recent example we had of this strategy in action involved a client wanting to list their home close to what the last home in the neighborhood sold for, and we knew with higher interest rates and less market demand that was not a good strategy. The sellers wanted to list the home at $550,000 and we counseled them on pricing, explaining that a proven successful method is listing lower and letting the market come to you, rather than listing too high and chasing the market down.

They listed at $500,000 and in 3 days we were under contract, with multiple offers, and sold the property for $560,000.

The market spoke and told them what their home was worth. Now, this may be a more extreme example, and you may not see the same results, however, the principle is the same. If you want to sell quickly and get the most attention for your property, pricing correctly at the time of listing is so important.

Home With Joy is your #1 resource for everything real estate. Whether you are buying or selling, we are here to help, support, and represent you, with 25+ years of experience in the Tampa Bay market. Call us today and let's talk about your 2023 goals!