Why not to overprice your Mississauga property?
Pricing Mississauga Property Accurately
There are several important guidelines for pricing Mississauga property. It begins with an accurate estimate. As soon as your Mississauga real estate listing enters the market, there is a flurry of activity around it. This is a crucial time when real estate professionals and potential buyers sit up and take notice. If the property is overpriced, it doesn't take long for interested parties to step back. By the time the price drops, a majority of buyers are lost.
Many sellers believe that pricing property high at the outset serves well because it can always be brought down later. But reality is often a different story.
When a home is priced too high, it experiences little or no activity. Dropping the price later may not change the situation for it may be too late by then. Usually the property is on sale for too long by then and buyers begin to back out, get wary or just reject the property. This may result in panic sales for lesser value or an expired listing. Remember, buyers are always keen to know how long the property has been on the market.
Amit helps you determine the best price to list your Mississauga property. Once you've achieved a realistic price, you can count on professional marketing and promotion to bring maximum buyers to your door.
Factors that influence overpricing:
- Extensive renovations / hidden costs
- Desire to purchase in a higher-priced area
- Original cost of home was too high
- Lack of real market information
- Building in "bargaining room"
- Perceived emotional value
- Missing the Right Buyer
You may think that interested buyers "can always make an offer," but if the home is overpriced, potential buyers looking at a lower price range will never build interest in the property. Those who can afford a home at your asking price will soon recognize that they can get a better value elsewhere
The advantages of accurate property pricing:
- Your property sells faster, because it is exposed to more qualified buyers
- Your home doesn't lose its "marketability"
- The closer to market value, the higher the offers
- A well-priced property can generate competing offers
- Real Estate Professionals will be enthusiastic about presenting your property to buyer
Contact Amit to sell your home or condo with the right pricing strategy
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