The prime marketing time for any home occurs during the first few weeks that it is listed. A brand new listing is generally shown more and given more attention. Making sure your home is priced reasonably right from the beginning will ensure it’s receiving all the excitement a new listing should.
Why You Should Price Your Home Realistically
Pricing a listing realistically right from the beginning increases the chance for a timely sale with less inconveniences and greater monetary terms. If you wait and reduce the price later in the listing period your home will have become stale and will not attract many new potential buyers.
With the availability of Realtor.ca more buyers are able to educate themselves on the market without even leaving their desks. They will be able to tell what is priced fairly and what is not. Further, fewer real estate agents will show your home because they know they can get a better value for their clients.
When your home is not priced properly it will most likely remain on the market for a long time. Buyers, aware of a long exposure period, will be hesitant to make an offer because they fear “something is wrong”. If the buyer’s do decide to purchase your home they will usually come in with an unrealistic offer.
If your home is priced inappropriately it may not sell which could mean you will end up owning two homes - the one you already purchased and the one you’re trying to sell. This can prove costly and worrisome, as well as inconvenient.