Pricing Your Home Effectively

How We Market Your Home | Advertising Your Property
The Failla Difference | A Seller's Closing Costs

1. Overpricing reduces the response you will receive from the Realtor's advertising.

2. Your property must compete with properties now on the market.  Buyers buy by comparison, so homes not comparing favorably with others in the area or those the buyers have inspected do not sell. Buyers are smart!

3. Buyers expect more at a higher price and failing to find all they had hoped for at that price 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. The Realtor making a practice of taking overpriced listings and having his "For Sale" signs on the property for months without results will become known as one who overprices.

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 who could buy in your area to look elsewhere.

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 will fail to provide the seller with real service if the home is not listed at a realistic price.  It is difficult for a Realtor to build his business if he has many disgruntled sellers with unsold properties.

11. Many times overpricing causes a substantial monetary loss because the owner is compelled to own two homes.  Some of these costs are mortgage, taxes, insurance, maintenance, heat, interest on bridge loan, etc.  These expenses are then combined with the many inconveniences the seller encounters.

12. Overpricing 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.