Five Signs Your Asking Price May be Too High
The Cary real estate market is constantly changing, and that’s a good thing. As new homes come on the market, and excited buyers send other properties under contract, the listings that are on the Cary Multiple Listing Service (MLS) today may be completely different come tomorrow.
But because of this rapid change, it’s imperative that sellers understand the local market conditions in order to fetch the best price possible for their Cary, NC property for sale. While having an asking price that is too low can result in a missed income opportunity, having an asking price that is too high is equally dangerous, as your property can stay on the market while other homes in the neighborhood are transferred to new owners.
So how do you know if your Cary home for sale is properly priced to sell in the current real estate market? It starts by looking for these subtle signs that your asking price may be too high.
Your home is priced much higher than comparable properties for sale
If you have the most expensive home on the block in a subdivision with similar properties, then chances are that your asking price is too high. A general rule of thumb is that when it comes to similar homes for sale, the least expensive property will sell first, so if you’re at the high end of the market, your property may linger for sale for a while.
You have had zero or very few showings
Interest in your home will be evident by real estate showings, and if you haven’t had any prospective buyers view your home, then your price may be keeping them at bay.
You haven’t received an offer, or only very low offers
If your home has been on the market for months to a year or more, and there have been no offers or a couple that are well below your asking price, it’s another sign that your listing price is driving interested buyers away.
You picked the agent that recommended the highest asking price
When it comes to enlisting the help of a real estate agent, experience is key. If you chose a selling agent because their proposed asking price was much higher than other sales agents you talked to, you may have accidently listed your property at an unrealistic price. Remember, when interviewing real estate agents, it’s essential to always ask how they arrived at their proposed asking price – an experienced agent will have comparable properties and detailed information at the ready.
You didn’t use a real estate agent at all
A real estate agent may seem like an added expense when you are first listing your home for sale, but a licensed North Carolina real estate broker is essential to sell your home at the best price possible! Because real estate agents have access to years of detailed real estate market data via the MLS, they can determine the optimal price, and can expose your property to thousands and thousands of potential buyers.
Remember that the best thing you can do to sell your home for the highest price possible, (and in the shortest timeframe), is to enlist the help of an established real estate agent. With their assistance, you can ensure that your house is smartly priced for the current Cary real estate market.