Although there are many reasons which affect the sale of a house but none is more important than its selling price. Whether pricing it too high, too low a sellers decision on the price tag should be done wisely. A seller in most cases should also be flexible when it comes to bargaining the cost with buyers.
Buyer’s choices matter
The rate at which buyers come to view a house is an indicator of how well you have priced your property. The opinions of buyers matters a lot when it comes to the cost of a house considering that they are house hunting and are in a good position to get a feel for their money’s worth.
The danger of overpricing
Overpricing a house has a lot of unforeseen risks. Even though it is one surefire way to make more profit if the house does get sold at that price, sellers should be mindful that a high price of a house will only attract very few buyers and once a buyer dismisses your property, it becomes very difficult to get their attention again. This makes the property stay longer in the market which creates room for your property to be stigmatized even if nothing is wrong with it. That is why sellers should have a good pricing strategy when putting up their house for sale.
Who is to blame?
When an individual wants to sell a house that they have lived in for a while, they tend to believe that the house is worth more than the market price. In addition, they also let their emotions comes into the picture which distracts them from being realistic when it comes to deciding on a fair price.
On the other hand, agents are there to guide buyers make the right decision when it comes to selling their properties. Good and reliable buyers will in most cases advise a seller against over pricing but in the real estate industry there are bad agents that are only interested in what they will get to benefit in the end.
The right price
To decide on what is the right price of a house, sellers should look at other sales that have taken place recently and also know the current market price. In addition to your own bottom line, this will serve as a guide as to how to price your home. Furthermore, it is advisable to have a good and honest agent that will help you reach a fair price within the market expectation.