After 17 years in real estate, one of the things I have learned is 'the less you ask for, the more you will get, and the more you ask for, the less you will get.' Good marketing begins with good pricing. All the marketing in the world wonít help if a property is not well priced. In the past few years, a popular trend has been to underprice a listing, hold back offers until a certain date, and depend on a bidding war to produce a high price. Todayís market-savy purchaser feels this process is not fair. Purchasers are far less willing to enter into multiple offer situations than they were. If the anticipated bidding war does not materialize, the price has nowhere to go but down. Even if there is more than one offer, none may be exceptional.
There could still be a situation in which it may be advisable to follow an underpricing marketing strategy. However, as a general guideline, listing your home at the agentís suggested market value plus a listing cushion of 5% will maximize value for the Vendor in todayís market. If you would like to know the value of your property, please e-mail me at firstname.lastname@example.org
or call for a consultation.