When Bergen County home sellers set the list price on their home, they’re partly deciding whether their home-selling experience is going to be worry-free or stressful.
After all, if the seller sets the price too high, they may not attract any interested and qualified home buyers for a while.
And if they set the price too low, they may sell quickly but they’ll also lose out on their hard earned equity.
But if a home seller sets the right price for their home, they’re likely going to sell it quickly and get the best profit possible.
Bergen County, NJ Home Selling
You’ll know when you’ve set the right price on your home when the following things start happening:
- You hardly have to try to get a buyer to make an offer
- Several people want to show you home
- REALTORS keep calling to make inquiries about the home for their buyers
- Your asking price and sales price are nearly identical
Unfortunately, a lot of Bergen County home sellers don’t experience these things because they’ve set the list price too high.
Oftentimes these home sellers feel justified in marking up their home for one of the following reasons:
- They’ve added numerous upgrades to the home and overestimate how much value those improvements were really worth to the overall price of the home
- They feel their original purchase price was too high and are trying to recover their losses.
- They want plenty of room to negotiate down the price if necessary.
While I understand this tendency to overprice homes, I’m here to tell you that it’s probably the worst thing you can do as a home seller.
Here’s when you know you’re asking way too much for your home:
- You miss buyers who are searching in your home’s price range because you’ve priced your home out of that price range
- You don’t get an offer within the first few weeks of putting your home on the market, which is the critical time for an offer to come in.
- Once that magic window has passed, you get fewer and fewer showings because buyers are wary of homes that have been on the market too long. They think something is wrong with it.
- You’re forced to do a price reduction but even that doesn’t help because buyers prefer “New Listing” notices to “Recently Reduced.”
- You end up helping your neighbor sell their home because next to your over-priced home, their home’s list price looks like a bargain.
List Your Bergen County Home With Us Today!
It can be difficult figuring out what the right list price is for your Bergen County home.
Contact us today to discuss listing your property on any one of the following markets:
Until next time,