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Seller Video Series 9: The Cost of "Testing" a High Price


Source: YouTube - Used under standard YouTube license terms.
Many sellers like the idea of pricing the house high at first to "test the waters." This strategy certainly helps to sell houses. Unfortunately, the irony is that the house that sells won't be yours. That's because pricing your house high only provides a high comparable for other houses for sale in your area.
And don't be fooled by all the showings you've been getting at a higher price points. The fact is that many buyers' agents will actually show your house to clients with the aim of showing what a steal the house down the street really is. For those buyers, seeing is believing.
A recent survey found that sellers who followed their real estate professional's recommended price sold the house 38 days faster, for up to 2% more and with fewer price reductions than those who didn't.
Smart sellers price right in order to get good offers early—in the first couple of weeks. You don't want to do anything that risks your house becoming "old and stale" in the eyes of buyers and buyer agents.
Yes, a buyer can always make an offer. You just want to make sure it's on your house.


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