Serious Buyers look in the price range that has been predetermined by their down payment and monthly payment ability. Unless your property is priced correctly, the down payment and monthly payment requirements will not be competitive.
A Buyer who is seriously looking soon becomes very knowledgeable in her/his range. An unreasonable asking price only discourages them from looking and considering your property.
Buyers purchase by comparison, and a property price above the competition does not “compare” favorably.
If you plan to adjust the price at the time of sale, why not adjust the price at the beginning and attract serious Buyers? The latter approach often places YOU in the favorable position of having more than one Buyer interested in your property.
It is difficult to obtain a reasonable offer on an over-priced property. The Buyer feels he/she should be just as unreasonable in the offer as the Seller is in asking for a high price.
It is a mistaken idea that you will get more for a property by asking more. You usually get less, because fewer Buyers will consider it. The right Buyers will not see it. And, it usually stays on the market so long that it tends to become “shop worn.”
To obtain proper market exposure, it is an absolute necessity to be competitive in price, terms and conditions with similar properties that are selling in the area.
Most activity for your home occurs in the first two weeks. In the current market, I believe it is important to price your home close to where you want to sell, to generate multiple offers and increase the number of showings. In a buyers market there is a high amount of inventory.
Preparing your home to show in ideal condition for marketing. It involves decluttering, cleaning, and adding props.
Open houses provide exposure to the general public and your neighbors. My belief is open houses don’t sell houses, they provide buyers for agents. There are however exceptions and I am always glad to discuss your specific property.
This is a good way to make your home available to agents in the area that may have buyers now or in the future for your property.
It is easier for a buyer to see things visually rather than imaging what might be.This would provide an opportunity for a higher sales price. An other option would be to adjust the price accordingly.