Advice On Price Changes

A big mistake that home sellers make is leaving too much room for negotiations.

I understand why sellers get more worried about underpricing their home. But in reality most homes on the market will sell close to market price and the data shows that overpricing can backfire.

If you have already overpriced your home and it's taking awhile to sell. I would recommend to bring down your price to the fair market value, or even a little below it.

What typically happens when you overprice is it will take twice as long to sell and you will get 4% less according to statistical data.

When you finally decide to change the price I highly recommend changing out your main photo. This will help if buyers have already visited you online may check out your home again with the new photo and new price.

Also the online real estate websites are set up set up with $50,000 and $100,000 price increments in their online filters. So, dropping your price from $405k to $399k will help get a lot more activity than dropping it to $402k.


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