By now, it’s obvious that I’m a proponent of attractive pricing that creates instant urgency and a quick sale. Those who can properly handle a bidding war can work with the contestants to find top dollar, and I’ve found that it’s literally easier to go up on price, than down.
The more traditional plan of pricing high with the idea that “you can always come down later” has been the pattern for so long that most people don’t even question its effectiveness.
Here is a classic example – even after dropping from $2,995,000 to $2,199,000, it took another two months before they found the buyer, and more discounting before they settled on the sales price:
You can spruce up the house (for best results, do everything) and price attractively to create maximum urgency and sell for top dollar quickly, or you can do nothing, list for a retail price, and let the market have its way with you.
Either way, you still come out with money!
What % of your listings in the last 60-90 days or so have sold with competing offers? Here in our market it’s very hit-and-miss. Really fine homes can sit for no particular reason other than it’s taking a bit of time to get to the buyer. Others which aren’t particularly outstanding, but may have a desirable address, can sell well above asking, sometimes fast, sometimes after weeks.
All.