Mistakes and Consequences of Mispricing a Home

• Pricing Low:

If you price low, you might attract multiple buyers and sell your home quickly; however, you might also your house for less than it’s worth, leaving money on the table that could have gone toward your next big investment.

• Pricing Too High:

1. With the modern online searching tools available, prospective home buyers only tend to look at properties within their price range. Because of this, pricing too high might mean that buyers in your area won’t even look at your house.
2. Another downside? The longer your home stays on the market, the longer you have to carry the mortgage payments. Especially if you have already purchased a new home, continuing to pay the mortgage on your old house isn’t the best thing for your bank account.
3. What happens if your house just collects dust on the open market? Buyers often assume there is something wrong with properties that sit too long. While you can take the house off the market and then re-list it at a lower price, today’s online tools allow buyers to see that history.

• Dropping Your Price Over and Over:

Repeatedly dropping the price of your home shows potential buyers that you are desperate to sell, which means that they are less likely to give you a full-price offer if they want to buy your house. You give all the negotiating power away the moment you drop the listing price on your home.

Why Choose Authority Appraisals

Avoid mispricing your home with a pre-listing market valuation appraisal from Authority Appraisals. It’s just not worth risking the costs and consequences of mispricing your home. We can arm you with the right information and advice – from a team of experts experienced with the Greater St. Louis and Illinois real estate market.

For more information, please Contact Us. If you are ready to get started, please complete our Order an Appraisal form, and we will contact you with a free pre-listing appraisal quote.