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Waltham home sellers often ask, “should I price my home higher to leave room for negotiations?” While we, Waltham Realtors, understand the thought process behind this, the short answer is no! For real estate sales, pricing your home higher does not work the same way overpricing a car or piece of furniture does. Let’s dig a little deeper as to why Waltham Real Estate Agents say that overpricing your home to leave room for negotiations is not the right move.
Buyer’s Agents Will Ignore Overpriced Homes
The first step in the home selling process is getting people to come to see your home. If your home’s price is listed too high, that’ll do just the opposite. Buyer’s agents will likely advise their buyers that your home is overpriced. This will lead to the buyers not even wanting to look at your home at all. Keep in mind that Waltham Real Estate Agents have years of experience and know the market exceptionally well, if you’re overpricing your home they will not advise buyers to give attention to your property.
Overpricing Eliminates Eligible Buyers
When selling your Waltham home you want as many people interested in your home as possible. If you list your home at a higher price, you might be eliminating many people who are eligible to buy your home at its correct price. A buyer might not qualify for that higher price or it may be out of their ideal budget. In this case, you once again won’t get people to even look at your home.
Waltham Realtors state that one thing you might do is succeed in getting buyers into your home who are looking in that price range. However, the problem is that they will be looking for more since the home is priced so high. They will be comparing your home to other homes in that price range and they will likely notice that your home does not compare to the others.
Overpricing Lengthens Time on the Market
Waltham Real Estate Agents say that overpricing your home can lead to it staying on the market longer because you’ll have trouble selling it. And did you know that the longer your home stays on the market the less money you’ll eventually get for it? If the average selling time is 60 days and your home has been on the market for 120 days, the buyers and buyer’s agents will think there is something wrong with the home. They will wonder what is wrong with the home and also believe that the seller must be desperate. If they believe you are desperate to sell (which you might be) they will start lowballing offers and you will get even less than your home is worth.
Contact a Waltham Real Estate Agent
If you’re looking for assistance in selling your Waltham real estate, contact a Waltham Realtor today! We have the knowledge and experience to help you properly price your home so that you can get as many people as possible interested in your property. This doesn’t mean we will underprice your home, we’ll make sure you get exactly what your home is worth if not more (as long as we initially list it correctly!) Contact Hans Brings today for all your Waltham real estate needs. Call 617-968-0022 or fill out a contact form.