Faster Sale. When your home sells faster, you save on carrying costs (the mortgage payment, property taxes, utilities and other costs of ownership). A quicker sale creates less inconvenience for you. If you've sold a home before, you know the energy it takes to prepare for showings: keeping the home meticulously clean, making child care and pet care arrangements and altering your lifestyle. Proper pricing reduces these demands on you by helping your home sell faster. At market value your home will gain exposure to more prospects who can afford the price. Sellers who list at a high price are looking for that one buyer who will pay it. Sellers often do not realize that they have discouraged many potential buyers who could have afforded the home. The final sales price on an overpriced home is often much lower than the fair market value, and comes at a much later date, because many times that one hypothetical buyer who is willing to pay the higher price never materializes.

Increased salesperson response. When local Realtors are excited about a home and its price, they make special efforts to contact all of their potential buyers. Knowing that it is priced properly for its market, they expect it to sell soon and encourage their prospects to act quickly. Their excitement is contagious!

Better response from advertising and sign calls. Ad calls and sign calls to Realtors turn into showings when price is not a deterrent. Most serious prospects are well educated about market values in the areas they are seeking. They will not waste their time on a home they consider overpriced.

Higher offers attracted. Buyers fear they might lose out on a good home when it is priced right. They are less likely to make "lowball" offers. Better pricing attracts multiple offers, too!

More money to sellers. If a home is priced right, the excitement of the market produces a higher sale price! You net more -- both in terms of the actual sale price and lower carrying costs.

Source ReThink Real Estate International

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