Wednesday, February 1, 2017

Why Overpricing Can Hurt Your Glencoe, Winnetka, Northbrook IL Home Sale

Pricing your North Shore home appropriately is an essential part of a successful sale. Many homeowners are tempted to set the price as high as possible, thinking they will give themselves room to negotiate with sellers, but that is not always the case. You could risk buyers being turned off by the high listing price and your home "sitting" on the market, lowering your chances of selling for that top dollar number.

Below are three reasons why you will want to avoid overpricing your home in Deerfield, Evanston, Glencoe, Glenview, Highland Park, Kenilworth, Lake Bluff, Lake Forest, Lincolnshire, Lincolnwood, Northbrook, Northfield, Riverwoods, Skokie, Wilmette, and Winnetka:

First impressions matter
The majority of homebuyers today first look for properties online, so you can imagine how important first impressions are. You will need to hook them right away! Buyers often set search parameters and include their price range in order to find available homes and if you price too high, you could risk them skipping over your property entirely. Buyers also know what homes in their price range look like— if your property is priced too high for its features, size and location, they will notice.

You may have to reduce the price
Homes that sit idly on the market for weeks or months at a time are likely headed for a price reduction. Not only does that mean you have less of a chance of getting top dollar for your North Shore home, but buyers may wonder what is wrong with the property that warranted the drop in price and ignore your listing altogether.

The market may change
As you know, the real estate market changes over time and even if you list now with the intentions of pricing higher, the spring signals a change. More inventory will soon be headed to the market and your high-priced home can get lost in the mix of newer, more realistically priced properties. Keep in mind that the changing economy and interest rates also come into play!

If you are ready to find out how much your North Shore home is worth in today's market, give me a call today! I have helped many homeowners agree on the best listing price and make their properties as intriguing as possible. What are you waiting for?

I look forward to hearing from you!

Janie Bress
Your North Shore Real Estate Expert

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