Everyone wants to sell their property for top dollar, right? It may come as a surprise but you don’t do that by pricing your home high; you do it by limiting the number of days your home is on the market. 

Hi, I’m Sherri Mills with Michael Saunders and welcome to another episode of Live 2 Give. Today, I’m going to show you how to price your property at top dollar. 

You will receive the most amount of traffic and showings for your house in the first two weeks that your home is listed. It’s very likely your highest offer will come within the first 30 days. The first few weeks of market time is crucial because that’s when everyone takes notice of the new listing on the block.

After 30 days on the market, buyers are less likely to be interested in your listing because they are wondering, “what is wrong with this property that it is still on the market??” 

The key is to price your home smartly right from the getgo. 

The buzz of a new listing happens because of a certain mindset. Selling a house is all about perception and positioning. When something new comes on the market, everyone will flock to it since it is the “new, hot” property. It’s the perception that “someone else may buy it” that has potential buyers creating their own sense of urgency on making an offer. This gives sellers the upper hand in negotiations for possible offers. Buyers and realtors know that newly listed properties get a lot of showings and price is not as negotiable.

People will pay more for something today that they fear may be taken away from them tomorrow.

One of the first questions buyers ask is about the market time. They want to know how long it’s been listed. If it’s been listed for a while, they are more likely to think it’s overpriced.

Let’s take this example. There are two houses for sale on the market. Let’s assume the houses are identical. If one has been on the market for 120 days and the other one has been on the market for 2 weeks, you’re probably going to offer more money for the house that has only been on the market for 2 weeks. Its just human nature! 

For this reason, you don’t want to overprice your house and “test” the market because the days on market are going to end up hurting you. Even if you do a price reduction down the road, you’re not going to have as many eyeballs on your listing as you do from the start. 

Have you ever seen a property online that sold for more than the asking price?? If you have, they probably used this strategy! First, you determine your market value with your real estate agent, then you price it at or slightly below market value, and in those two magical first weeks, people get excited and you start getting offers! This will most likely be a multiple offer situation.

I hope this video was helpful to you in understanding the importance of market time when it comes to selling your home. If you have any questions, please feel free to reach out! I am Sherri Mills with Michael Saunders and thank you for watching another episode of Live 2 Give.