A competitive price will attract more
As the triangle graph above
illustrates, more buyers purchase their properties at market
value than above market value. The percentage increases
even further when the price drops below market value. Therefore,
if you price your property at market value, you are exposing
it to a much greater percentage of prospective buyers and
you are increasing your chances for sale.
Overpricing your home is more dangerous than underpricing
When you overprice
your property, you push away serious Buyers. An overpriced
home usually sits on the market longer and sells for a lower
price than it would have if it had been intelligently priced
from the first day on the market.
There is little,
if any danger in underpricing your property. If your property
is really underpriced, you will get multiple offers in a
short period of time and the market will adjust your price
upward. Your home will look better than the others in its
buying motivator might bring you a igher price than if you
had asked more for the property.