5 Reasons Why You Should Never Overprice Your Pleasanton Home
When selling your home to buyers looking for Pleasanton homes for sale, you have to be careful not to overprice. While it is natural for a seller to maximize the sale of a home, overpricing your property can backfire and leave you with nothing to show but a stale listing.
Read on for some reasons why you should be careful not to overprice your home when selling.
You will scare off buyers
Pleasanton has become a popular destination for buyers looking for luxury homes and starter homes. If you overprice your home, you will scare off the best buyers. They will be dashing to the next house even before you get the chance to show them your home. Buyers often work with real estate agents who can easily tell when a home is overpriced. If they think that yours is, they will advise their client to consider other more reasonable priced homes. Even if the buyers are not using a real estate agent, they still usually avoid homes that seem far pricier than others in the neighbourhood.
You will attract lousy agents
Real estate agents are in the business of selling homes, and they prefer homeowners who have realistic expectations. A good agent will honestly answer your question, “What's my home value in Pleasanton CA?” On the other hand, there are some agents who take advantage of your unfamiliarity with real estate matters and encourage you to overprice your home or worse yet, don’t have the nerve to explain the importance of proper pricing in fear they will lose a chance to take a listing. Some agents will tell you what you want to hear just to get their for sale sign in your yard.
These kinds of agents are just using your home as an advertising vehicle to acquire other clients. The good news is that there are lots of great and experienced real estate agents who do not prey on unsuspecting clients. Instead, they have your best interest in mind. As a seller, your job is to find an agent that knows the market and knows how to sell homes for the best price in the shortest amount of time and is not afraid to advise you as to proper pricing.
You will have missed showings
Buyers and real estate agents looking for a home, search within a price range when using the Multiple Listing Service (MLS). If you price your home outside of the comparable range or above the current market value, your property will not come up in their search. You will end up losing showings from prospective buyers who can afford your home.
You actually help sell the competition
Buyers usually compare properties when considering a home purchase. When a buyer compares your overpriced home versus one that is priced at a fair market value, the buyer will likely be convinced to place an offer on the well priced property instead of yours. With an overpriced home, you are helping the competition get sold.
You will face a tough closing
It is quite difficult to close an accepted offer on an overpriced home. This is mainly because of the fact that buyers will continue to look at the competition. Once they quickly realize they have overpaid, it will result to buyer’s remorse and a collapsed sale prior to contingency removals.