Currently, Oxford has a strong buyer’s market with all great inventory having a very short turnover time. While missing on a few great properties is a norm for buyers, sellers are left wondering: how high can I sell my house? Sellers always want to sell their property for as much as possible.
If curb appeal attracts passers by, low price attract offers and gives the seller the best chance for a high sale.
The answer is to aim your list price low to get the high value that you want. This approach is strongly advised over the idea of pricing high and taking the best offer. Here is the psychology behind this idea.
Sell your home by pricing lower than market
“Aggressively price the property roughly 5% to 10% below the going market rate. This will always generate more traffic to the property and give buyers a chance to fall in love with the home, when a higher purchase price might have kept them away initially. Not only does it get more people in, but once the buyers see the place, they’re more likely to offer over the purchase price, which often leads to bidding wars.” – Collin Bond, Realtor for the Boris Sharpan Team of Douglas Elliman
Creating this competition among buyers can lead to quick initial offers as well as responsive counter offers from buyers. In addition to this pricing strategy, sellers should also complete these tasks:
- repaint the home (both inside and outside as needed)
- do some minor updating
- clean up the landscaping
- repair any noticeable issues
Following these tips will make the offers much easier to obtain. For more detail suggestions of listing preparation, click here.
For more great ideas on selling your home, you may consider to sell your home in the Spring. A Spring listing will allow for the greatest exposure to Oxford buyers.