Last Updated: October 19, 2021

Don't Chase The Market Down, Home Sellers

Written By: Barbara L. Pearce
Mailbox and a for sale sign in a yard with driveway leading to a garage and house.

Because of the strength of the current real estate market, largely due to lack of supply, there is still time this calendar year to sell a home. Even now, buyers are out there. One agent at our firm listed her home yesterday, and had multiple showings within an hour.

What's the secret to selling your home quickly?

Don't overprice. That's it. Many people want to try for more, so they overprice, hoping that a desperate buyer will bite. That's the wrong way to do it. The only real way to get more than your home is worth is to list it for at, or slightly below, what it should sell for--then buyers will bid, more than one offer might well come in, and, with luck, a bidding war will ensue.

Don't be Greedy

When, on the other hand, the seller starts high, s/he misses the best two weeks to sell a home--the first two. And, since the best offer is often the first, it's important to get that offer in. Overpricing leads to lowering the price, which in turn leads buyers to try for even less.

It's so simple, and so often violated. Don't be greedy, and listen to your agent. You'll be happy you did.

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Pearce Real Estate is a full-service real estate company for Greater New Haven and Middlesex counties.  Check out the many real estate selling services that we provide, both in-house, as well as through our partners and affiliates.

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