The Importance of Pricing Strategy

Crazy sellers market right?
Tempted to price just a smidge higher?
Let’s talk about the importance of strategic pricing…

In this sellers market, many sellers are wanting to see just how high they can push their list price. The conversation goes something like this, “because my neighbors put their house on the market for $400,000 and received $50,000 over asking, I want to list my house for $450,000”. It is extremely tempting to push the market; that is, price your home at the tippy top of what you think is possible in this market. This graph below from the National Association of Realtors shows the percentage of buyers who will look at your house if it is priced at market, below market and above market.

PricingBuyers still want to see prices reflect market value and then decide if they are willing to pay more to compete. When it is obvious the house is overpriced or pushing the envelope, they pass it up and will likely go pay just as much for another house around the corner that used a smarter pricing strategy. Pricing, as always, is paramount. Metropolist agents are skilled and educated to help you price your home to get the most money – and perhaps even more importantly the best contract terms – in this market. If you have been thinking of selling, or know someone who is, give us a call!