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Home Pricing Mistakes that Sellers Should Avoid

Category Principal's Message

Today's buyers are well informed about property pricing, consequently, the seller needs to ensure that the right buyers are attracted to their property.

To conclude a quick sale, here are five mistakes for sellers to avoid when pricing their home for market.

Responding to Negotiation

The largest error a homeowner can make is attempting to thwart the negotiation process by escalating their initial list price.

An exaggerated price will exclude solid potential buyers, especially if area statistics don't support the asking price.

Avoiding Research

Doing relevant market research is one of the most important steps. Avoiding this leaves you ill-informed when determining your initial list price as well as when it comes to the negotiation process.

Ignoring Recent Home Sale Prices

When deciding on your listing price, review recent home sale prices in your neighbourhood. A property professional has access to this information and will be able to offer assistance to sellers when deciding on the correct listing price.

Not Open to Compromise

By staying open to negotiation, it is possible to make any sale situation accommodate all parties. The question that the seller needs to ask is whether it is more important to attain the full asking price - which may mean a longer period on the market- or to make a few concessions and close the sale rapidly.

Not Performing a Market Analysis Through a Property Professional

A reputable agent with area expertise will save many hours of, possibly non-relevant, self-research. An agent will have access to resources and information that the homeowner will not.

Author: Prime Property Marketing

Submitted 13 Aug 19 / Views 78

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