3 Pricing Strategies in a Seller’s Market By Leah Ragsac, Kauai Realty, Inc.
Real estate markets across the country are experiencing a strong seller’s market. For potential sellers, this may be a golden opportunity to get top value for their property. While it may be tempting to aim for the sky when setting the listing price, that may not be your best option. Here are 3 pricing strategies to consider before deciding on your asking price.
1
Listing at Market Value Buyer’s love “realistic sellers.” After considering the market data for your area, choosing to list at the current market value can attract the right buyer and encourage a solid offer or two. Typically, this results in a fullprice offer with straightforward terms.
2
Listing High It is always tempting to list ahead of the market, especially in a seller’s market. This strategy is risky and can mean you waste valuable time by sitting on the market with little interest. Even in a strong sellers’ market, buyers will shy away from overpriced listings.
3
Listing Low Listing below market value will attract attention. The goal of this strategy is to encourage a bidding war that results in a sales price over market value. A seller’s market presents opportunities. Work with your agent to discuss the options and trends in your local market. While it is a good time to sell, Buyer’s don’t lose heart. It is a good time to buy as interest rates are still low, making it a good time for Buyers and Sellers!
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