Planning on listing your home for sale? Do me a favor and don’t be one of those sellers that prices their home ridiculously high, expecting that they can capitalize on this hot seller’s market.
Because my friend that is the kiss of death. Overpricing is the kiss of death.
It doesn't matter what market we're in; it's the worst thing you can do, and buyers can smell it a mile away.
We hear it all over the news; we’re in a housing crisis. There are more buyers who want to buy, than there are homes for sale.
During this time a lot of sellers think, “Well, great. I'll just stick a sign in the yard and price it. Exactly what my Zestimate says and I'm going to get multiple offers.”
Well, the truth is that it's not that simple.
The buyers out there are smart. They have access to the data; if they sense that a home is overpriced. They’re going to sit back and wait. They know interest rates aren’t going to rise anytime soon and so they’ll be patient and wait for the seller to reduce their price.
So, sellers listen up! Price your home right. It doesn't matter how hot the market is, you always want to price it right. Let the buyers dictate where the value is going to go. It doesn't matter what your Zestimate says, it doesn't matter what Redfin says.
A house is only worth whatever a buyer's willing to pay, but you have to have perceived value out the gate or else you could be in the danger zone.
Don’t forget to catch up on my weekly show, Taya’s 2 Cents
, where share my two cents on different real estate topics from buying and selling real estate, owning a home and more.