Can You Price Your House Higher than It’s Market Value?
Everyone wants to sell their house for top dollar and get 100% of its market value. Bun can you sell your house for more that it is worth?
Avoid Unreasonable Pricing
Contrary to the obvious idea to price your property above market value, you should price it in such a way that it attracts the most number of interested buyers. For example, if you price your house too high, in the very beginning when it shows up on the market, very few people will show interest. After some time on the market you will start getting some less qualified buyers and will be forced to make cuts and can even end up selling your house for less than it is worth. On the other hand, if you price it slightly lower, you can get many potential buyers and use their competing offers to drive the price higher.
If your house needs repairs, pricing it high won’t help you because buyers will try to cut out the repair costs from the asking price. To sell your house for more you need to make all necessary repairs. People think that a great location will always make them the most money when selling a property. Truth is that it is hard to sell a property above market value if it is badly maintained, even if is in a great area. Before putting your house on the market, you need to fix all issues and give it an updated look. The house should look like it is ready to move in and not like a fixer upper. This way your buyer will find it hard to come up with reasoning for lowering the price.
There are always buyers who can afford to pay a higher price, the challenge is how reach them. It is very important to get the marketing right to get to your type of buyers. Consult with your realtors what are the best options to give your house the best exposure. You also need to be very patient and wait for the moment when you meet the buyer who is ready to pay that price. Don’t be tempted to lower the price and wait it out.