Costly Seller Pricing Mistakes

Here are some predictable mistakes home sellers make when pricing their home:

1. Sellers often price their home
based on "need" rather than the
market.

2. Sellers use the ‘wrong’ properties
for comparison when pricing.

3. Sellers build in a ‘negotiating
cushion’ and then have no one
with which to negotiate.

4. Sellers take advice from ‘well
meaning’ but uninformed parties.

5. Sellers allow positive emotions
about their property to influence
their pricing decisions.

Pricing a home correctly is the most important service I offer my clients. Properties that actually sell average selling for 95% of their list price. If your home is priced more than 5% above what it should sell for, it will probably never sell. Listing the home for too high a price and then reducing the price slower than the market is called 'chasing the market.' We are seeing a lot of that in this declining market.