“The Goldilocks Approach”
Anyone who’s done a Web search — which means everyone — knows the problem: type in an overly broad search, and it returns a zillion hits.
However, type in an overly narrow or restrictive search, and it returns zero hits.
A home’s list price works the same way, albeit in reverse.
Too high, and you get nothing — no showings, let alone second showings or offers.
But if you price it too low . . . the listing can turn into a three ring circus, which can be off-putting to at least some Buyers — and therefore actually hurt the ultimate sales price (possibility #2: Buyers figure there’s a catch, and skip it altogether).
Between Zero and a Zillion
Surprise, surprise . . . to pick a mid-point price that narrows the field of serious Buyers to a manageable handful.
And what price is that?
The price suggested by three recent, good Comp’s — informed by a knowledgeable local agent’s experience and sense of the market.