Compare apples to apples and don’t list too high

So you are going to put your house on the market next week. Don’t be in too big a rush. You might underprice your home.

Most sellers are more in danger of overpricing their home than underpricing it. Historically, that’s what many home owners do. They are overconfident. They let their home sit on the market for too long at too high a price and when they finally discover they have priced themselves out of the market, it’s almost too late. Their best remedy at that point is to take their home off the market and relist it a few weeks later. That’s not a good strategy.

Many are waiting until next week to list. I suggest you wait until January the 8th and be careful. Expect an increase of listings friday the 5th. A smart agent will encourage you to list that day and have you take the weekend off. One purpose is to see if you get multiple offers.

That’s a worthy suggestion. See what the competition is doing. Most likely, the other home owners will be overpriced. But don’t list your house at the same price as other houses on the market right now. Proper market research includes a comparative market analysis that goes back six months and looks at house within a few mile radius of your property and of similar size and with similar amenities. That way, you are comparing apples to apples.

See Also

  • Price Your Home To Sell
    Get a CMA before you list your house in order to prevent yourself from overpricing or underpricing your property.