Overpricing your home causes damaging effects and results in a lack of interest and offers on your home. It stays on the market, is less appealing, becomes stale and may not appear on the search engines because it’s outside the buyer’s price range. Buyers are constantly comparing properties to determine which one offers better value. Overpricing your property will help sell your neighbour’s home. Even if you do find that one buyer, you’re faced with the next hurdle: a low appraisal. The truth is, it doesn’t matter how much you think your home is worth. The market will dictate the amount of attention your home will receive based on the list price. So make sure to analyze the market trend, data, recent sales and active listings before deciding on a realistic price.
Kim Lee PREC*
Oakwyn Realty Downtown Ltd.
P: 778-997-8938
E: hello@kimlee.ca
How to Make an Offer on a House
September 16, 2022
