Studies and statistics have shown that the first two weeks of listing your home are the most crucial for the success of selling your home. I remember working for a company 5 years ago and they planted that in my mind so much I would go on listing appointments and have to prove this over and over with my power point presentations! Fast forward 5 years later and working in a new state and I am still a believer!! How many of us have heard “Let’s just try it at this price for two weeks, then we can always drop it”……
Noooooo! Those are THE crucial two weeks that everyone that is interested and actively looking are your buyers and will look at that price…. Do not lose them. Internet search is number one for home searching in this day. You basically have one chance to make that first impression! Don’t lose it. They will pass over your property and never look back.
I have even had situations (as I am sure many of you have also) where the listing was priced correctly or maybe slightly under the comps and I have received multiple offers to the point where we ended up getting over asking! Pricing your home in a competitive market also shows that listing a home right under a rounded out number is also a great strategy… (299,000 vs 300,000).
So the key is go to those listing appointments prepared. Bring those statistics with you. Show them that over-pricing may create their home to be on the market for extended days and this “stigmatizes” the property that something is wrong with it. (When actually if it would have been priced correctly in the first place they would not even be in that situation). Educate yourself, then educate your clients. It is a win-win.