CHAPTER 2
Setting the Right Price “The right price isn’t just a number — i r — it’s a strategy.” One of the biggest mistakes sellers make is believing they can start high and “see what happens.” While it might sound logical, this mindset often backfires. In real estate, pricing isn’t about what you think your home is worth — it’s about where the market is and how buyers behave. A home priced right from day one attracts attention, sparks competition, and sells faster. A home priced too high? It sits. And once it sits, it loses momentum — and buyers begin to wonder what’s wrong with it. As your guide, my mission is to help you price with precision, using strategy and data to put your home in the best position possible. Understanding Market Value Market value is what a ready, willing, and able buyer is prepared to pay — not what you hope they’ll pay. That number is influenced by location, condition, size, and timing. But perhaps the biggest factor is perception. If your home is priced at or slightly below market value, buyers perceive it as a deal — and that triggers urgency. If your home is priced above market, buyers skip right past it. In today’s data- driven world, perception is everything. Pro Tip: A well-priced home creates competition. Competition drives emotion. Emotion drives offers. The Danger of Overpricing Many sellers fear underpricing more than overpricing. Ironically, the real danger lies in overpricing. Here’s why: • Overpriced homes stay on the market longer. Buyers 5
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