• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

  • BUY

    • Search for Homes
    • Mortgage Calculators
    • NJ School Report Card
    • Short Sales
    • Should I Buy an Investment or Rental Property?
  • SELL

    • 1031 Exchange
    • NJ Real Estate Transfer Tax
    • What is Your Home Worth
  • Vacation
    Rentals
    • Guest Services
    • Payments and Policy
  • Market
    Reports
    • Atlantic County Market Report
      • Longport, Margate and Ventnor Market Report
      • Ocean City Market Report
    • Camden County Market Report
    • Cape May County Market Report
      • Avalon/Stone Harbor Market Report
      • Cape May Market Report
      • Sea Isle City Market Report
      • Wildwood Market Report
    • Cumberland County Market Report
    • Gloucester County Market Report
  • Core
    Services
    • Mortgage
    • Title
    • Insurance
  • Meet
    Mav & Co.
  • Contact
    Us

Selling? Here’s Why You Shouldn’t Overprice Your Home

October 21, 2019 By The Mav Team

From the way the tulips bloom in spring to the snazzy new wet bar in the basement, you’re well aware of all the reasons why your home is worth every penny you’re asking for it. Unfortunately, the market may feel differently.

No matter how many unique characteristics contribute to the value of your home in your estimation, ultimately, local market statistics, such as comparable market values, still play the largest role in determining the optimal listing price for your home. Here’s why putting your home on the market above that price can be detrimental:

  • You might miss the “new listing” allure. Sometimes, the best chance of selling your home is within the first 30 days when it hits the market as a new listing. But, if it’s priced too high for the area, buyers will overlook it and wait for a price drop.
  • You’ll help the competition. Your home may attract buyers to your neighborhood, but if it’s priced higher than others in your area, they’ll take the better deal!
  • You won’t show up in searches. When buyers are searching online—which most do before ever showing up in person—they set search parameters based on price range. If your home is priced too high for your neighborhood, you’ll be skipped over from the get-go.
  • Your home will lose interest. If your home is priced too high, it will linger on the market, which becomes a red flag for buyers. The longer it sits on the market, the more people assume there is something wrong with it.
  • You’re working with the wrong agent. If the real estate agent you’re working with agrees to list the property at an unrealistic price, that’s a red flag. An experienced local expert will strongly advise against listing too high (for all of the above reasons) and probably won’t take the listing if you insist.

When it comes to choosing the right listing price for your home, make sure you’re working with an experienced real estate professional, then follow their guidance when it comes to price.

Primary Sidebar

Current Interest Rates

Powered by NJ Mortgage Rates

What is Your Home Worth in Today's Market? Find Out!

We are Short Sale Professionals! Whether you are looking to buy or sell a home short sale, contact us!

Michael Mavromates - Certified Short Sale Agent

Have a Question? Contact Us Now!


Sorry we are experiencing system issues. Please try again.

From the Blog

  • Dodge Winter Lawn Damage
  • 7 Things to Remove From Your Home When You List It
  • 3 Ways Soapstone Enhances Home Design

Footer

Connect with Us

  • Facebook
  • LinkedIn
  • Pinterest
  • Twitter
  • YouTube

Contact Us

  • Name
  • Email
  • How May We Help You?
  • Buy
  • Sell
  • Vacation Rentals

Copyright © 2023 Michael Mavromates · Long & Foster Real Estate, Inc · Avalon, NJ · Homes and Real Estate

Michael Mavromates - Mav & Co.| Licensed NJ Realtor® | mmavromates@comcast.net | Cell: 609-408-7804
Long & Foster Real Estate, Inc | 2997 Dune Dr - Avalon, NJ 08202 | Office: 609-967-3001
All information provided is deemed reliable but is not guaranteed and should be independently verified.
Equal Housing Opportunity Disclosures Privacy Policy

website by marketme