How to price your home for sale?

by Nov 27, 2019Selling0 comments

Pricing a home correctly has (by far) the biggest impact on how quickly a home sells and how effective the marketing is. The main reason why listings expire or end up sitting on the market for too long is the price – priced too high.

Price it right from the start.

According to industry experts, homes that are priced too high eventually sell for less than those that are priced correctly from the beginning. Overpriced homes can take months or even years to sell while those that are priced correctly usually sell within days or weeks.

Graph 1

Graph 1 above illustrates how interest in a new listing changes overtime. When a home is first listed on the market, it generates a great level of interest from prospective buyers. However, that interest drops dramatically over time. In order for a new listing to get maximum exposure, it is crucial to have the home priced properly during the peak of the curve (first 2-3 weeks).

Starting with a high price (to see if you get lucky), with the intent of lowering it later if you don’t get an offer, will usually waste the most valuable chance a seller has of getting the best price for their home.

By overpricing their home when most buyers would be interested in it, and then lowering the price when vastly fewer buyers are interested in it, sellers end up chasing a dwindling buyer pool by continually lowering the price until it becomes a big enough “bargain” to get buyers interested again. This usually results in a lower selling price and a longer time on the market than just pricing it right in the first place.

Graph 2

In graph 2, the centerline represents the actual market value of a property. As we move above the market value, less and less prospective buyers find the property attractive and therefore greatly reducing the chances of a sale. As we move below the market value, more and more buyers will be attracted to your home.

Obviously every seller would like to get more for their home but you also have to keep in mind that buyers are always trying to pay less and will rarely pay more than market value for a property. This is why the market value is really the sweet spot when it comes to deciding on the listing price.

Share this article


Submit a Comment

Your email address will not be published. Required fields are marked *

Let's get started

What would you like to sell?

Your best home selling experience at an awesome price.

(954) 667-7744

6424 N University Dr Tamarac FL 33321

Real estate services in the state of Florida are provided by Access USA Realty, Inc. a licensed real estate brokerage. FL Lic. CQ1007156


Loading. Please wait.

Customer Reviews


Customer Reviews

Andrew W 03/20/2019

Took the time to always respond to my inquires and was immediate and concise, absolutely will use in the future, and will also recommend him to my friends and family

Michelle J 10/06/2019

Andrew and I have worked with for years. And every time he never ceases to amaze. Extremely knowledgeable and patient. I have no problem in recommending him as an agent

halcbs 03/19/2014

Larry is the ultimate professional. Clear and honest advice cuts through the nonsense. Makes the experience painless. I have recommended him to family and friends with success.

Dr. Marcia Magnus 12/17/2014

I have dealt with more than 10 real estate agents in South Florida, some of whom had multiple awards from their companies for good performance but Andrey is the best. He is responsive, knowledgeable, and best of all he is a great problem-solver. And that's what you need in a realtor.

Debbie V. 10/10/2019

Erick was amazing from start to finish!! We chose him as a selling agent because his photos and listing descriptions were great and we were not disappointed. He takes some great pictures and did a video walk-through that showcased our place to potential buyers. His CMA was on point and he asked us a lot of questions to ensure he was helping us achieve our goals in the timeframe we had. He was kept us informed about progress once we had a contract and was very responsive to all my questions and concerns. Having worked with several other agents with terrible customer service, it was a pleasure to work with Erick and I would highly recommend using him for any of your real estate needs. Thank you Erick!!

Jean E. 03/18/2016

Yodelvis is first rate because he gets the job done. He helped make the entire selling process as smooth as possible. I recommend him without reservation.

jerrobbie 08/01/2015

Andrey handled the long distance sale of a condo left to my family as part of an estate. Without my being there, Andrey took care of every detail and kept me informed at every turn. I asked for a quick sale and Andrey did everything possible to make sure that happened. He was quick to respond to every question in a polite and professional manner. If I ever have the need for a real estate agent in the area in the future I will be sure to call Andrey first and I will recommend him to everyone.

Nataporn Moungklieng 2019

We found Andrew to be efficient, professional and he kept us informed during the whole process.

Highly recommended!!!

Traci Burke 2018

We have used Larry Milligan for both buying and selling our homes, he is nothing less than a lifesaver. I always felt like he really had our best interest in mind. He was very knowledgeable and always quick to answer any of our questions. We still keep in contact with him to this day.
We would definitely recommend Larry and Access USA Realty!
Skip to content