Failla Realty, Inc...Realtors
Serving West Cook And DuPage Counties And The Entire Chicagoland Area
(708) 485-6606    (708)785-6999
Pricing Your Home Effectively
  1. Number 1, and most important, overpricing reduces the response you will receive from Buyers and Realtors.
  2. Your property must compete with properties now on the market and recent sold comparable properties.  Buyers buy by comparison, so homes not comparing favorably with others in the area do not sell. Buyers are smart!
  3. Buyers expect more at a higher price and failing to find what they expect at certain prices become disinterested.
  4. Overpricing causes most homes to remain unsold for too long a time.  Buyers aware of this long period of exposure are hesitant to buy, fearful that there is something wrong with the home, and pass it by.
  5. Realtors tend to lose their enthusiasm for a home after a number of unfavorable reactions from buyers, causing many of them to discontinue showing the property.
  6. Cooperating Realtors know the overpriced listings and having "For Sale" signs on the properties for months without results will not promote future showings. Quite often overpriced properties help sell other properties.
  7. A Realtor's most precious commodity is his TIME.  Therefore, he cannot afford to spend his time working on overpriced listings.
  8. Overpricing tends to force buyers to other properties.
  9. The right price is of the utmost importance in the sale of any commodity.  Homes priced right usually sell after a normal market exposure at a fair price.
  10. The Realtor cannot provide the seller with the proper service if the home is not listed at a realistic price. 
  11. Many times overpricing causes a substantial monetary loss because the owner is continuing to pay expenses while the property is unsold. Some of these costs are mortgage, taxes, insurance, maintenance, heat/utilities, interest on bridge loan, etc.  These expenses are then combined with the many inconveniences the seller encounters.
  12. Overpricing above the comparable sold and closed properties accomplishes nothing because homes sell for their fair market value eventually.  The advantages of realistic pricing far outweigh any consideration to price the property above fair market value.

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Failla Realty, Inc.
9140 Broadway • Brookfield, IL
(708) 485-6606 • (708)785-6999