Why Pricing Your Home Right Matters

When selling your home, naturally you want the best — and highest — offer. Given today’s market conditions, you might think the best strategy is to list your home well over market value to cash in on the current market. But according to Christian Peguero, a sales associate at ERA Justin Realty Co., that strategy is most likely to backfire.

“In today’s real estate market, setting the right price for your house is one of the most valuable things you can do,” Christian explains. “And the RIGHT price isn’t always the highest price.”

Maximize Demand

As a seller, you might be thinking about pricing your house on the high end while so many of today’s buyers are searching harder than ever just to find a home to purchase. “But when it comes to pricing your house, the goal is to increase visibility and drive more buyers your way,” says Christian. “Instead of trying to win the negotiation with one buyer, you should price your house so you attract more buyers and maximize demand.”

Higher Prices May Actually Deter Buyers

A high listing price does not always mean you’re going get a high offer. It’s actually more likely to deter buyers. “Even with the current low inventory, if your house is priced too high it’s more likely to sit on the market longer or require a price drop,” Christian explains, adding, “That can send the wrong signal to buyers and imply there is something wrong with the house.”

Work with a Pro

The best way to ensure your house is priced correctly is to work with a trusted real estate professional. When you price it competitively, you increase the likelihood of having multiple buyers competing for your house, potentially increasing the final sale price. Christian sums it up this way, “If you correctly price your home from the start, you can maximize your exposure and your return.”

To work with Christian or any of the experienced sales representatives at ERA Justin Realty Co., give us a call at 201.939.7500.