Mom, I've decided that the most important price for a house is the first one.
Having a mother as a Realtor rubs off on a kid, I guess. We had been driving home from an open house; I bring one of my daughters along if I'm previewing properties or just staying on top of the market and I want some company. The house we had just seen had had a price reduction and she went on to say how, once the seller lowers the price, then buyers think they have even more chance to negotiate on price. She is a freshman in high school. She understands market conditions and negotiating position.
In a rising market with conditions more favorable to a seller (based on housing supply, interest rates, and other economic conditions), for the right property, "testing the waters" with a leading edge price might be a winning strategy. However, if minimum time on market, optimal contractual terms, and potential competition for your property are key success factors in the sale of your home, there are other "at market" or conservative pricing strategies to discuss with your real estate adviser and agent.
Let me help you match your goals with the right pricing, preparation, and promotion strategies for the sale of your house.
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