57 Pricing Low vs High: The Great Debate

The time has come when you decide you’re going to put your property on the market and move on. Maybe you just got engaged or maybe you’re retiring and moving somewhere warm, but either way, you decide you want to sell. You look at the comps online and figure out what your home is worth and meet with your agent and decide on a price and then the day before you list you panic and think that price is too low my home is worth more and you decide you want to list at a higher price. Your agent has no idea where this is coming from but tells you it’s better not to price too high. Now, what do you do?

If you’re working with an agent that you know and trust they’ve worked very hard looking at properties to figure out why they think a property should be priced at a certain number. You only get one chance to make a first impression and being priced properly out of the gate can help you get the most eyeballs on your property and give you the best chance for success. It is harder to play catch up on the market with price drops and that also increases the days on the market which never helps to maximize profits.

At the end of the day, the market determines the price and pricing should be looked at as a tool to get buyers in. Understand the market you are in and then pick the best price based on numbers.

Any other questions? Reach out to us at www.therealestatebroadsofnewyork.com or you can email us at deniseandsharon@compass.com

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