Pricing above market value is a sure fire way to keep buyers away
Recently I have noticed more and more home seller who, despite the fact that their homes are on the market, do not appear to want them sold. If this is your goal – to keep the house on the market as long as possible, these tips are for you.
Tip #1: Price your home well above the market value. You might be thinking that this is not going to work, that buyers will still want to buy your home because it is so much better than anything else out there on the market. All the special features and the custom decorating add a tremendous value to the property so of course, even if you list it higher, buyers will still be putting in offers.
Not to worry…in this market, if your house is priced above market value, buyers will probably skip right over it without blinking an eye. It’s tough out there right now and most deals involve negotiating with a bank who don’t play those fun negotiating games. Buyers are usually pretty beat up after a few weeks of house shopping. They are going to stick to their price range and look for the good bargains.
If you look through sales records of home sold here in the Valley there are plenty of examples of homes that were priced above the market value but eventually sold for what they were really worth…or slightly less…and with significantly more marketing time than those homes that were priced right from the start.
So, a sure-fire way to keep that home on the market as long as possible – price it high!