Let me share with you what overpricing can do
to the eventual sale price you receive for
You will lose excitement that a new listing generates.
Realtors are working with buyers who have seen what is currently on the market and are waiting for something new to be listed. Therefore, the most activity will take place in the first thirty days of a listing. Your home will probably receive its highest and best offers during this time. After that initial period, the only people who come to look at your home will be new buyers in the marketplace.
You will lose the most qualified prospects!
Buyers will not just make an offer because they probably will never see your property. They will view the properties that are priced within their purchasing power, knowing that they cannot afford anything above their price range.
Overpricing helps sell other, more competitively priced homes first.
Your home may be used to demonstrate the good value of other properties. Your objective should be to enter the market in a position that will attract prospects, not drive them away.
Your home may become stale on the market.
Prospects may wonder why it has been on the market so long or if something is wrong with the property, even after you lower the price. You may even have to settle for less than market value. A house takes on a reputation surprisingly fast, so don't wear out your welcome on the market.
Has your home been tested for Radon?
Kansas has adopted legislation related to radon testing, K.S.A. 58-3078a. As of July 1, 2009 all residential real estate contracts will require the following statement:
“Every buyer of residential real property is notified that the property
may present exposure to dangerous concentrations of indoor radon
gas that may place occupants at risk of developing radon-induced
lung cancer. Radon, a class-A human carcinogen, is the leading cause
of cancer in non-smokers and the second leading cause overall. Kansas
law requires sellers to disclose any information known to the seller
that shows elevated concentrations of radon gas in residential real
property. The Kansas department of health and environment recommends
all home-buyers have an indoor radon test performed prior to purchasing
or taking occupancy of residential real property. All testing for radon
should be conducted by a radon measurement technician. Elevated
radon concentrations can be easily reduced by a radon mitigation
technician. For additional information go to www.kansasradonprogram.org.”
When your home is listed with RE/MAX On The Move, you can receive a FREE radon testing kit, a savings of $130.00. Be a step ahead in selling your home!
You lose a strong negotiating position when your house is on the market a long time, both financially and mentally.
Prospects will not rush to make an offer on an overpriced property, and you may feel compelled to accept less when they finally do.
If you do get an offer, the contract may fall through because of appraisal problems. The lender must justify the price to the market.
As you can see, pricing your home correctly will make a tremendous difference in how fast it sells and for how much. I make it my business to know the market and price my
clients homes to sell for the most money in the
least amount of timeand Im good at it. Just ask my past clients. If we need to talk about price, I'll call you -- or don't hesitate to call me first.
Let's work together to make selling your home a success!