Whatever You Do, Don’t Test the Market!
Thinking of selling? Whatever You Do, Don’t Test the Market!
Why not “test the market” to see if you can get the price you want? No homeowner wants to “leave money on the table.” It’s a common thought to consider “testing” the market to see if the house will sell for the desired price.
Why not? Well, because….
- A home that is properly priced will sell more quickly and for a better price.This means you save on holding costs, like mortgage payments, taxes, insurance, etc.
- A well- priced home shortens your marketing time, thereby reducing the time, energy and inconvenience of altering your lifestyle and preparing your home for showings.
- Real estate agents are excited about new listings that come on the market priced right. They will make special efforts to notify their prospective buyers and show the property quickly.
- It’s a tough market and there is an abundance of competition. Putting your home in the wrong price range increases the odds it won’t sell, even if you eventually adjust the price to correct it.
- A properly priced, properly staged home is a hot commodity when it comes on the market. It has more exposure the first two weeks than at any other time during the sales process.