When listing a home for sale, choosing the correct list price is the most important marketing factor.

List the home too high and your home may not be viewed.
List the home at its current market value and your home will be viewed by most current buyers.
List the home slightly below its current market value and your home will be viewed by even more buyers.

In the past 12 months, homes and condos in Danbury have sold for approximately 97.5% of their most recent list price, on average. What does that mean to home sellers? It means a lot.

If an agent lists your home too high, it probably will not sell.

Got it? Repeat it:
If an agent lists your home too high, it probably will not sell.

Buyers want to view homes that are priced right. Buyers know the market and they know when a home is overpriced.  So do buyers’ agents, who don’t want to waste their time showing overpriced home.
The exception:  Buyers’ agents may show an overpriced home to demonstrate the value of those homes that are priced right. So, your overpriced listing will be used to sell other homes.

Sometimes, sellers say they want to price their home 10% or more over value to allow for “wiggle room” during negotiations. This plan almost always backfires.  Price it right. It means the difference between listing a home and selling a home.

Listing agents and sellers do not make money by listing homes.
Listing agents and sellers make money by selling homes.

 

Agents: Need to learn how to better determine the value of your listings?
Enroll in our popular How to Value a Home continuing education class.  Enroll online here.