Everyone has heard the stories of multiple offers on new listings and prices way over list.
This has led some sellers to unfortunately over-price their homes hoping for similar results.
Overpricing your home in this market is the worst possible strategy!
The very best results I’ve seen with new listings is to price them in the middle of the range in that neighborhood.
Not at the top, and not at the bottom, but right in the middle.
THEN, the most likely outcome is multiple offers over list price.
THEN you have the best odds of getting more favorable terms too!
Even in this market, I’ve helped three buyers this year get secure homes against no completing offers with favorable terms to the buyer — all because the sellers had significantly over-priced their home.
You heard correct!
Over-pricing your home is the kiss of death, even in a seller’s market when homes are expected to sell the first weekend.
David Baker, Broker/Owner