Seller FAQ: Is It a Good Idea to Start High?
Should you price your home high just to "see what happens"? Many sellers like the idea of “starting high” to see if they get higher offers, but this strategy isn’t usually practical. Here are a few reasons why:
First, buyers may not see your listing if they use a price filter set to what they expect prices in the area to run.
Second, you run the risk of the appraisal coming in lower than your contract price, which will require your contract to be renegotiated or canceled.
Third, if your listing price puts your home higher than your neighborhood value, your home will likely sit on the market longer as buyers wait for you to make a reduction.
It’s best to set a realistic listing price that will bring you buyers quickly. My goal is always to get you the highest possible price in the shortest amount of time. If you're thinking about selling your home, give me a call. I'd love to help you get started.