As a Brooklyn home seller, it’s understandable to want to get the most money possible for your property. However, some sellers fall into the trap of pricing their home higher than its market value to leave room for negotiations. While this strategy may seem like a good idea at first, pricing your home right from the beginning is always the best strategy. Here’s why.
First and foremost, pricing your home correctly from the start will attract the right buyers. Most buyers these days conduct their initial property searches online, and they use a price range to narrow down their options. If your home is priced too high, it will most likely not appear in search results for buyers who are looking for a home in your area and price range. This means that you’ll miss out on potential buyers who could be interested in your property if it were priced correctly.
Moreover, if your home is priced too high, it will likely stay on the market for longer than it should. This can make potential buyers skeptical and cause them to wonder why your property hasn’t sold yet. They may think that there’s something wrong with the property or that you aren’t that serious about selling. This can lead to fewer showings and ultimately, fewer offers.
Additionally, pricing your home too high from the beginning can result in fewer offers and a lower final sale price. Buyers are savvy these days and do their research before making an offer. They’re familiar with the local Brooklyn real estate market and they know when a home is overpriced. If your home is priced too high, it may deter buyers from making an offer or lead to a lot of low-ball offers. This can ultimately result in a lower final sale price than if the home were priced correctly from the beginning.
Lastly, pricing your home right from the start can help you sell your home faster. When a home is priced correctly, it will attract the right buyers who are interested in your property and are willing to pay the most money for it. This can result in multiple offers and/or a faster sale. Selling a home more quickly not only saves you time and stress but also puts money in your pocket sooner rather than later. The last thing you want is to start out too high, then chase the market until you finally start generating offers. Becoming a stale listing is never ideal so the more accurate the pricing in the beginning, the more activity and offers you’ll receive.
Ultimately, pricing your home right from the beginning is always the best strategy when it comes to selling a home in Brooklyn. It attracts the right buyers, leads to more showings, and more importantly, it leads to more offers. You always want the most offers possible because that can lead to a faster sale at the highest price possible. Don’t fall into the trap of pricing your home too high in the hopes of leaving room for negotiations. Instead, work with an experienced Brooklyn real estate agent to price your home correctly based on its market value. If you’d like a Free Home Valuation or would like to schedule a Free Consultation with our team, feel free to Contact Us anytime 🙂