Charlotte Home Seller Tips | 7 Painful Consequences of Overpricing Your Home
With the recent change in the Charlotte real estate market, many sellers are finding themselves feeling quite confident that they are soon going to sell their home. One of the main problems that we are seeing with some sellers are that with this added confidence in the real estate market, they feel even more confident about their higher list price.
When you overprice your Charlotte home for sale, you may well suffer from 1 or even all of these 7 overpricing consequences:
2. You may become, what refer to as “stale merchandise,” meaning that the longer your Charlotte home remains on the market, the more unappealing your home is to potential buyers. Longevity tends to lead buyers to believe that there is something wrong with your home…or, quite possibly that you are stuck on that price and may very well not think that it’s worth even making an Offer.
3. With reference to longevity, the longer your home remains on the market, the less money you will get for the sale of it. Statistics have shown overwhelmingly that homes on the market for an extended period of time procure incrementally less in sales price than those homes that were priced at market value from the very beginning.
4. Becoming stale not only means that your buyers could think negatively of you but, you lose market interest and qualified buyers as well.
5. 99% of home buyers who remain on the market beyond the average days on the market make less money on the sale of their home than had they priced the home correctly from the beginning.
6. Not only will you make less money on the sale but, you will also have incurred expensive carry costs including taxes, insurance, unexpected maintenance costs and HOA dues.
7. Appraisals are a buyer’s safety net these days. If you are over-priced and the buyer’s lender has an appraisal that does not meet the value which you and your buyer have ultimately agreed upon, the lender is not going to lend more money to your buyer than the appraiser’s stated market value. Think about that for a minute–would you pay more for something than it’s worth?
You’ve heard the recommendation to accept that first Offer because subsequent Offers will not be as high as your first one, right? Well, so should your pricing strategy take into consideration the consequences of overpricing your Charlotte home. The longer it stays on the market, the less you’re going to make.
Also, bear in mind that, as we stated in the beginning, the market is turning around–take this opportunity to get your home sold quickly so that you can take advantage of a great deal on YOUR next purchase!
More Charlotte home seller information:
- Two Key Ingredients to Selling Your Charlotte Luxury Home
- Charlotte Area Luxury Home – Staged, Stunning and SOLD!
- 10 Most Common Charlotte Home Seller Mistakes
- Things You MUST Disclose When Selling Your Charlotte Home
- Charlotte Home Seller Tips – Preparing for the Inspection
- Six Staging Tips to Get Your Charlotte Home Sold Quicker
- Charlotte Home Sellers – You Should NOT Have to Pay for Marketing Your Home UP FRONT!
- Safety Tips for Charlotte Home Sellers
- Charlotte Home Seller Tips – Marketing Mistakes to Avoid
- Charlotte Home Seller Tips – Five Updates to Get Your Charlotte Home SOLD!
- Charlotte NC Home Seller Tips | Spectacular vs. Blah – Guess Which SELLS?!
- Pricing Your Home for Sale, Myth vs. Reality
- Selling Your Charlotte Home – Leave the Emotions Out of the Equation
- Pricing is CRITICAL When Selling Your Charlotte Real Estate
- Charlotte Home Seller Tips – Redefine Your Market Value
- Charlotte Home Seller Tips – Do Your Research
- Charlotte Home Seller Tips – Remodeling Tips | Ways to Save You Money
- Charlotte Home Seller Tips | Extend Your Selling Season
- Charlotte NC Home Seller Tips | It Only Takes ONE Offer
If you’d like additional advice on attracting buyers, please call me at (704) 491-3310 or email me at [email protected] for more information.
©Debe Maxwell | Savvy + Company Real Estate | 7 Painful Consequences of Overpricing Your Charlotte Home for Sale