Your real estate agent offers many benefits to buyers and sellers, one example of how they help is by assisting sellers in setting the price of their homes. Many sellers want to overprice their home because of emotional attachment or financial need, however, new research is showing that homes that are overpriced usually end up selling for a lower price.
Jeffrey Otteau, a New Jersey appraiser has been studying recent home sales of $500,000-$750,000 in real estate market were prices have been declining. Homes that were realistically priced sold in a month for full price. Homes where the sellers was testing the market and asking for more than the median price of other comparable homes actually sold for less than the the lower-priced home.
Overpricing tends to extend the amount of time a property is on the market and insures that your home will sell for less.
Let our professional real estate agents help set a realistic price for your home so that it will sell quickly and for the amount you want.
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