#ChickChat Episode 38- DO NOT Overprice Your Home!
So in this episode, we're going to talk about what happens when you list your home too high, because I know it's tempting to do so, but it just doesn't help you get higher value for your home. It really doesn't.
First of all, you won't get a lot of showings because the first showing happens online, so all buyers are comparing our home to other homes that are priced correctly and they won't even come and look at yours. Second, you're really just helping the other homes in the neighborhood sell faster because if other homes in the neighborhood are priced at, let's say 300 and you are at 315, they are just going to think that the other homes are a better value than yours is. They're not even going to write an offer on your home. And third, you're just creating a stale listing. We all know that overpriced homes are going to sit on the market a little bit longer. And the active days on market, as they add up, buyers are always thinking what's wrong with that home, why isn't it selling. And sometimes they just skip the showing for that exact reason. Homes are selling really quickly right now. Still, if your home is priced at market value and the market will always adjust. So even if you're at market value, you can still get multiple offers. We're still in a low inventory situation. So it's best to just price your home right from the beginning. Have you ever seen someone on Craigslist try to sell a '95 Civic for 10,000? It just doesn't happen.
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