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Selling Strategy
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- Buyers look in the price range determined by their ability to buy. If your property is not in their range,
they will not see it.
- Buyers looking consistently in a specific price range soon can tell when a property does not belong in that
range. If your property is priced too high, it will not compare favorably with other homes in that group.
- Inviting the buyer to make an offer suggests to him or her that it may be over priced. Further, it suggests you know it
is over priced.
- If buyers recognize that a property is well priced, they are encouraged to take action. Such pricing can produce
multiple offers. Multiple offers can produce a selling price higher than the listing price, and gives you a
choice of buyers.
- A well-priced property sells sooner, and may save you money and aggravation. An over priced property
languishes on the market, becomes shop worn, and is avoided by agents.
- A reasonable offer for an overpriced property by definition must be quite low. Buyers are often reluctant to make
a really low offer for fear of offending the seller.
- Conversely, buyers who "test" a fairly priced home with an offer frequently will accept a close to full priced counter
offer because they know the price is fair.
- Pricing high believing it will cause negotiations to end high is counterproductive. Pricing too high produces no
offers. After delayed price reductions, the house will sell for less than it might have if priced right at the
outset.
- Pricing your home at market value attracts the appropriate buyers, sells the house faster, and gives you the best chance
of getting you a full price sale.
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