Overcoming the “Under or Overpricing” Trap
How Sellers can make sure their home is not “under or over priced”? There are huge risks for the seller if the pricing is not right, which often times is what the buyers are willing to pay and what the home is really worth, when selling a property. Sellers should not lose money by under-pricing their home and they should not lose money by overpricing which can have the same negative impact on the outcome of how much will be the result of the sale. This is a real concern especially if the home has some unique features and there are no similar properties for comparison and pricing it right! Fortunately there is a proven way to overcome this problem and to price a unique and often highly upgraded luxury home . Of course, you’ll need a real estate professional who has been trained to handle the concerns of the parties involved. The agent should be able to provide guidance to the seller, the buyers, and should know how the MLS works. The agent must make sure, the following goals are achieved in the transaction:
- Increases property visibility
- Attracts more buyers to the property
- Maximizes selling price
- Determines market value effectively
And must make sure it makes sense to all the parties involved. Seller should be advised on how to respond to the offers, Buyers should understand why this system is more beneficial to them and the MLS concerns should be addressed in a thoughtful and acceptable manner.
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