Is Your House Priced to Sell Immediately?
In today’s real estate market, setting the right price for your house is one of the most important things you can do. According to CoreLogic’s latest Home Price Index , home prices nationwide increased year- over-year by 4%. By this time next year, CoreLogic predicts home prices will increase by 5.2% on a year-over-year basis. It’s important to realize that pricing your house a little over market value to leave room for negotiation will dramatically decrease the number of buyers who see your listing ( see below ):
Impact of Price on Visibility
The percentage of potential buyers who will look for a property
10% 30% 60% 75% 90%
Instead of trying to ‘ win ’ the negotiation with one buyer, you should price your house so demand for it is maximized. By doing so, you won’t be negotiating with one buyer over the price. Instead, you’ll have multiple buyers competing for the property. The secret is making sure your house is Priced To Sell Immediately (PTSI). That way, your house will be seen by the most potential buyers. It will be more likely to sell at a great price before more competition comes to the market. Bottom Line If you're thinking about listing your house, let’s discuss how to price it appropriately to maximize your exposure and return.
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