The Dangers of Not Starting at the Right Price
Is my home invisible in the market?
Your home has been on the market several months. You’ve seen several homes in the neighborhood sell. There is seemingly no interest in your home and you still have yet to get your first showing. Your agent has shown you the marketing that is being done and there is no doubt that your home has become invisible to any buyers that might be looking for a home in your area with the style and features that your home provides. When your home is presented to buyers through their buyer’s agent as a home that’s been on the market for a long period of time, the fact is that most buyers have already lost all interest.
In order to gain the attention of the buyers again, the price will need to be reduced. You must lower the price below what the market would have been several months ago, and now you need to price your home for even less.
With the majority of buyers starting their search for their next home on the Internet, it is very important, now more than ever, to start your home’s pricing exactly where it should be when you begin marketing the home. Your buyers are looking in your neighborhood, but are only looking at the homes they can afford. If your home is priced outside their search, your home is invisible to the buyers and you will see your neighbor’s home sell long before yours does.