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- Most buyers shop online for homes using price ranges, like $400,000-$500,000
- If you price the house at $500,000 you will get visibility with buyers shopping both between $400,000-$500,000 and $500,000-$600,000
- A house priced at $510,000, will only get half of those buyers
Impact of Price on Visibility
Effects of Overpricing
- It’s a Myth to think “I’ll price it high to leave room to negotiate”
- Overpriced homes will make the competition sell faster
- While your home sits on the market, it will attract less buyers and sell for less than market value
- DON’T rely on automated pricing from sites like Zillow and Redfin.
- They use simple average estimations, without keeping in mind the upgrades, location, schools, proximity to shopping, freeways, and more.
- In King County, Zillow estimate error rate is 7% on average