If a home doesn’t sell, there must be something wrong with it. That’s a true statement. In a market that is moving, there is something wrong with a home that doesn’t sell. But contrary to popular belief, it’s not always location or condition.

While location and condition is important for certain reasons (close to good schools, crime levels, neighborhood appearance), there is something far more important when it comes to making a deal. Price.

The number one reason why an otherwise attractive home does not sell is the price. Homes that are grossly overpriced often never sell at all. Why? Because home buyers don’t make offers on them.

Home buyers usually don’t make offers on overpriced homes because they don’t want to offend the seller. It goes against human nature to offer substantially less than asking price to a seller. It’s insulting to the seller and embarrassing for the buyer. Buyers erroneously believe that the seller knows the home is overpriced. They believe that if a seller would be willing to sell for less, the seller would simply lower her price.

Buyers also assume that the seller must have turned down low-ball offers from other buyers because surely someone, somewhere along the line, had offered a reasonable price to the seller. But many times, there are no offers at all.

While it may seem counter-intuitive, pricing your home competitively from the beginning can actually net you a bigger profit in the long run.

Call us today for a free, no obligation analysis of your homes value.