Today we’re talking about why strategically pricing your home when listing, is one of the most important factors to selling.
There are 3 pricing strategies that can work for your circumstance:
1) We go for the highest possible price; we want to break all the records. It’s the needle in the haystack strategy. In today’s market most of the homes sit on the market because they simply priced it too high.
2) The 2nd strategy and the most likely strategy is pricing at fair market value after looking at comparables and stats. Fair market value is what the buyers are going to see, what lenders are going to lend to - it’s the norm in the market.
3) The 3rd strategy is pricing the home below fair market value. This strategy kicks in when sellers want to be in and out of the market. This will certainly draw more buyer’s attention towards your home. And it may bring the bidding war opportunity which was very common a few months back.
Ultimately, you don’t want to be sitting on the market and heading towards price reductions. It is important for you, as homeowners, to make the right decision and price your home strategically, as per the market and your timeline, to get the highest value.
For a complimentary home evaluation, please give us a call: PJ 604-725-1258 & Razaik 604-537-8447!
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