Answer: On average, 95% of the time, homeowners price their home higher than it is worth to leave room for negotiation.This is ok depending on how much higher they priced the home. It is always best to have your agent look at competitors and give you their professional opinion on what they believe the price range your home should be listed at. However, the ultimate decision is up to the homeowner. Beware though, sellers can miss out on potential buyers because of their home being overpriced. Also it can send the message to buyers that you are unrealistic and they will be more hesitant and may not even make an offer. Being overpriced means your home will sit on the market for longer and eventually you will have to do a price reduction if you have no offers. This can cost the seller more money in the long run if they have a mortgage, etc. It’s always best to get the professional opinion of your agent or get a current appraisal on your home to know realistically where you need to be and list it as close to that number as possible. By doing so your home will sell quicker!
Caroline Dargan Johnson