Set The Right Price From Day One.
If you list your property too high, it will sit on the market and eventually force you to have to consider price reductions.
In a recent article, realtor.com lists these common mistakes sellers should try to avoid!
Mistake No. 1: Basing your asking price on how much you paid or owe
Mistake No. 2: Expecting to get reimbursed for renovations (kitchen/bath remodel, pool, etc.)
Mistake No. 3: Leaving too much room to negotiate down
Price your property at or just slightly below the comps. Today’s buyers are highly informed, so if they sense they’re getting a deal, they’re likely to bid up a property that’s slightly underpriced, especially in areas with low inventory.
Mistake No. 4: Shop the competition, how does your home stack-up
Mistake No. 5: Just because your neighbor is asking for a certain price doesn’t mean he’s going to get it. Look at recently closed sales within the past 6 months.
Mistake No. 6: Getting emotionally involved, sellers think their home is worth more than it is.
Mistake No. 7: Failing to quickly and decisively reduce. If your home goes several weeks without an offer, it’s likely priced too high.