Pricing your home correctly from the beginning is the best way to start the selling process off right. If you start out with a price too high, you will add stress onto you waiting for the house to sell but also stress real estate agents trying to get the house sold for you. If the price of the house is right, the agent will market and promote your home with success. This means working with other local realtors who know of potential homebuyers.
By having the price and terms where they should be from the beginning, your listing agent will have a powerful force by networking with other realtors. In fact, if the listing agent is doing a good job, the first few weeks of your home being on the market should be busy with activity as realtors, brokers, and potential buyers make their way through to see what you have to sell. However, it is essential that the price and terms be right.
If you have overpriced your home, then the number of real estate agents looking will drop dramatically. Remember, realtors make money off the sale of a house. Therefore, if they know the price is too high and the house is not going to sell, the realtor is not going to waste his or her time taking potential buyers to see the house only to walk away empty-handed time after time.
The problem is that if you start with a high price and then try to drop it, your home is now old news, meaning you will never be able to capture the initial flurry of interested parties. The best option is to price your home just below your competition. What often happens is you get more than one potential buyer interested, which pushes the price up beyond what you might have overpriced it for at the beginning. The key to selling your home quickly is to price it right and with the right terms from the get-go.