Don't Give It Away: Re-Evaluate Your Pricing Strategy

Re-Evaluate Your Pricing Strategy

Sometimes you need to re-evaluate your pricing strategy. Keep in mind that the WENS Myths - the Wants, your Ego, what you Need, and what you Spent - should NOT be revisited weekly while your home is on the market. These myths are not an effective pricing tool, but sellers frequently fall back on them, especially when the home isn’t selling quickly.

Instead, focus on the market. Talk to your real estate agent to determine what has changed since you first listed your property. Are there more properties available for sale? Did the mortgage rates go up? What homes sold in the same price range while your home did not? Should you stage your home if you haven’t previously? What feedback do you have from prospective buyers? All of these factors may impact if, when, and by how much, you alter your list price. Most importantly, let the data, not your emotions, drive your pricing strategy.

 

If you would like a copy of Shannon's book Don't Give It Away: Maximize the Sales Price of Your Home By Discovering The Emotional Mistakes Every Home Seller Makes... and How to Avoid Them, click here.

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