There are four common pricing mistakes sellers make…
Priced too high at listing
Homes priced correctly when they first come on the market sell closer to the asking price than homes that start too high, then adjust lower.
Odd listing price
Round numbers are recommended. Realtors search for homes using price categories such as $850,000 to $1,000,000.
Not pricing a home based upon recent comparable sales
Realtors research comparable properties recently sold with an eye toward active listings (the competition) to come up with a recommended listing price. A home can be listed at any price, but priced accordingly a property will attract attention from buyers on the internet and area Realtors searching for their clients.
Refusing to negotiate
The listed price ought to have some flexibility otherwise some potential buyers may go elsewhere.
This information was sourced from the California Association of Realtors.
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