Let’s Play, “The Price is Right!”
- Importance of Pricing + Timing: Timing is crucial in the real estate market. Your home receives the most attention from potential buyers and the real estate community when it’s newly listed. This is when it has the greatest opportunity to sell. Timing is extremely important in the real estate market. When your property is first listed, it attracts the most activity from potential buyers and the real estate community. This initial period presents the greatest opportunity for a successful sale.
- Importance of Intelligent Pricing: Pricing your property at market value exposes it to a larger percentage of prospective buyers, increasing your chances of a sale. By pricing your home competitively from the start, you increase your chances of attracting a larger pool of prospective buyers. More buyers purchase properties at market value than above market value. Pricing your property intelligently improves your chances of attracting buyers and achieving a successful sale.
Intelligent pricing plays a crucial role in the selling process. The triangle graph illustrates that a significant number of buyers purchase properties at market value rather than above market value. When you price your property at market value, you expose it to a greater percentage of potential buyers, thereby increasing your opportunity for a successful sale.