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230. Why Overpricing Your Home is a Bad Idea Every Time
Manage episode 440418535 series 3421327
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In this episode, we dive into the common mistake of overpricing a home and why it almost never works in the seller’s favor. We explore the reasons behind this, from missed showings to reduced offers, and explain how pricing a home just under market value can lead to more buyers and better terms.
Key Takeaways:
Overpricing = Fewer Showings: An overpriced home will often get fewer showings, as buyers tend to avoid homes they perceive as overpriced.
Longer Days on Market: The longer a home sits on the market without offers, the more buyers wonder what's wrong with it.
Underpricing Creates Competition: Pricing a home just under market value often leads to more showings, multiple offers, and higher net profit for the seller.
Quotes:
"The market speaks, and if your home isn’t getting showings in the first few weeks, it’s a clear sign the price is too high."
"Every time a home is overpriced, it ends up costing the seller more in the long run."
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