How important is it to get the pricing right on your house from Day 1?  It is essential for a timely, successful sale, and here's why....

We can't call "do over" if we discover we missed the mark.
In days gone by, sellers would (and could) take their homes off the market (out of the MLS) and then back on the market the following day to obtain a new MLS number, and a new "days on market" figure.  This can't happen any longer -- even if you switch to a new real estate agent or company.  Now, your home has to be off the market for 4 months before the "days on market" will reset.  Thus, if we decide a few months into a listing agreement that our list price was too high, we can't take the property out of the MLS and the put it back in with a new price and a new MLS number.  Thus it will never be seen as a "NEW LISTING" at that "right" price.

Right on Day 1 is much different than right on Day 181
If I recommend that we list your home for $300K and you insist on $325K, then (if I was correct) we missed the mark.  Our Day 1 price ($325K) was too high for the market, because you wanted to "give it a try for a few months" to see if we could sell it for more than we thought.  Then, if we discover six months into our listing period that the price really should have been $300K, we don't have the same opportunity with a re-priced, 180 days on market home listed at $300K as we would have had with a brand new listing, priced just right at $300K.

Peer pressure suggests that old listings have problems
It is not necessarily true at all, but homes that have been on the market for an extended amount of time are seen (by many buyers) to have "problems" -- as these buyers wonder why other buyers haven't jumped at the opportunity to make an offer.  After a decent amount of time on the market, your home will be seen as one that countless other buyers have opted out of buying, so why should this next buyer (the person viewing it tomorrow) think it is a wonderful house to behold?

These are just a few of the reasons why it is so important to get pricing right from the beginning when listing your home.  There are plenty of other reasons, but this should hopefully inspire you to make sure the correct list price is on the home from the start. 

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Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com