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If you want to sell your home quickly and for top dollar, what's the best strategy to follow when pricing your home?
That's a great question, and I believe that I have the answer. About two weeks ago I listed a ranch-style home at $200,000, and then the neighbors (who owned a replica home) listed their property at $209,000. So we had two identical homes, but one was $9,000 more than the other.
What happened?
In less than two weeks we received multiple offers and ended up taking $204,000 for the home. The neighbor got one offer and sold for only $200,000.
The neighbor's strategy didn't work because home buyers are savvy and they know when they're getting a good deal. They can see that the home isn't really worth the extra $9,000, and they'll go on to the next one (which happened to be my listing).
The first two weeks that your home is on the market are extremely crucial to the overall sale. You want to create a buzz in the market with an attractive sale price. The best thing to do is price your home right at or right below the market value. This will open up the largest pool of buyers, and you'll have the best chance to get top dollar for your home.
If you have any questions or concerns about this issue, or if you'd like to talk about real estate in Rochester, please don't hesitate to contact me!
