If you are thinking of selling your home, one of the hardest ideas to wrap your head around is pricing... especially the idea of under pricing. The kind of pricing that could make you feel sick to your stomach.
You might wonder if you're leaving money on the table. If buyers will think something’s wrong with your home. If no one will offer enough. Every instinct will want to fight it. After all, isn’t it safer to price higher and leave room to negotiate?
This reaction is completely normal. But what experience shows, time and again, is that the fear of underpricing is misplaced. Here’s why:
• You cannot price too low, but you can price too high. A lower list price generates more attention. More attention creates more opportunities for offers. More offers create competition.
• Market value will reveal itself. Listing low does not mean selling low. Buyers will bid up to the true value of the home, and often higher.
• Overpricing is the real risk. Homes that sit unsold tend to go stale and ultimately sell for less after price reductions.
The instinct to aim high is deeply human. But surprisingly, it is often the decision to aim lower and invite competition that leads to the strongest outcomes.