Are you planning to sell your home? You may have heard on the news that due to an increase in interest rates that fewer homes are selling. While there is some truth to this statement, it is also true that the real estate market is merely correcting itself after years of soaring prices and unusually low-interest rates. However, in real estate there is one thing that is true under any market conditions: PROPERTY PRICED CORRECTLY AND MARKETED EXCEPTIONALLY WILL ALWAYS SELL.

Here are 10 reasons why it is so important to realistically price your home for sale:

Overpricing reduces the response that advertisements will receive.
Your home must compete with other homes presently on the market. Buyers buy by comparison and thanks to the internet today’s buyers know the listing price of all properties in your neighborhood, their price reductions, whether they were previously on the market, and their sales price.
Buyers expect more at a higher price and will become disinterested should they fail to find all that they had hoped for at that higher price.
Overpricing causes most homes to remain unsold and on the market for too long. Buyers today are aware of how long a property has been on the market. This period of exposure makes them fearful that there is something wrong with the home.
Buyer’s agents tend to lose their enthusiasm for a home after a number of unfavorable reactions from buyers, causing many of them to discontinue showing the property. As your Seller’s Agent, the most important job aside from marketing that we have to complete for you is properly pricing your property to sell.
Real Estate Agents making a practice of taking overpriced listings and having their “For Sale” sign posted for months without results will become known as a poor merchandiser among other agents, and, to be honest, is using your home as free advertising space. Think about it…you have seen some agents’ names all over the neighborhood but seldom on a “SOLD” sign.
Overpricing tends to force buyers who could buy in your area to look elsewhere.
The right price is of the utmost importance in the sale of any commodity. Homes priced correctly usually sell after normal market exposure.
A Real Estate Agent will fail to provide the sellers with real service if their home is not listed at a realistic price. You hire us to sell your home not to take pretty pictures for our office window. We do not want you to become disgruntled.
Overpricing accomplishes nothing because most homes sell for their fair market value. If a similar house two doors down listed for $1,375,000 and sold for $1,250,000 and a similar house across the street listed for $1,390,000 and sold for $1,265,000, then asking $1,800,000 for yours, unless it has substantial differentiating features, is unrealistic. The advantages of realistic pricing far outweigh any consideration to price a property more than 5-10% above its fair market value.

As a boutique brokerage, F. Juliano Real Estate and its expert team use its full set of resources, knowledge, and experience about the Brooklyn Real Estate market to work for our clients. This expertise along with our understanding of current real estate trends will give your property an advantage in this stiff real estate market. You do not need a large real estate office to sell your home; you need a focused, strategic, adaptable, and knowledgeable office, which we are.

F. Juliano Real Estate can help you with a personalized market analysis. Call us at 718-266-4400 or email us at info@fjulianorealestate.com.

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