Would-Be Home Sellers Beware
“If your parents don’t have children, you won’t either.”
–old joke.
“If your home doesn’t get showings, it won’t get offers, either.”
–real estate equivalent
Not a few would-be Sellers, arguing for a too-high listing price, rationalize that “Buyers always come in low, so why not leave a little (or a lot of) room to negotiate?”
Self-Chosen Peer Group
That approach is fine . . . provided the home in question is truly one-of-a-kind.
But, assuming that the home has at least a few competitors, choosing a too-high price ensures that Buyers will find it wanting relative to its (self-selected) peer group.
As I tell my listing clients, “either your competition helps sell you . . . or you help sell them.”
See also, “Perils of Overpricing Even (Especially) in a Rising Market“; “Perils of Overpricing“; and “Nurse! I Need a Price Reduction, Stat!!“
