Sellers with homes priced above $400,000 will only sell to 9% of the entire buyer population! That will have implications for how a home is priced and marketed from day one. This is another major reason that overpricing a home in the beginning kills almost all chances of connecting with a buyer right away. Many FSBO’s, and even many real estate agents, think that the best strategy to sell a home above $400,000 is to price the home high and leave room for negotiating downward, but this is actually a strategy that guarantees 91% of the buyers won’t even come to the table.
It’s something to think about in this market.
[Data Source: Real Market Data, LLC]
Last Updated on April 3, 2010 by Chuck Marunde