If you want to know how to maximize your home sale price, there is one very important thing to know: when you put your home up for sale, you will receive the most interest in your home when it is fresh on the market.
The first several weeks are the most critical time in the marketing period, because that’s when you will have the most prospective buyers eyeing your home. If you don’t get an offer on your home within the first several weeks, the chances increase greatly that your home will ultimately be on the market for several months, and that your price may be too high.
In an appreciating market, it may be OK if you can wait months for the market price to come up – but in a market which is flat or in decline, it almost certainly means you’ll pay dearly for having over-priced your property from the get-go.
You see, interested buyers tend to fall in one of three categories: those wiling to pay above market price, those willing to pay fair market price, and those only willing to pay below market price. Those who are willing to pay above market price on a home are far fewer in number than those who are willing to pay below market price.
It’s best to select a price that targets those willing to pay fair market value for your home to help ensure that you don’t lose profit or keep your home on the market too long and eventually have to accept a lower offer than you otherwise might have had the price been optimally set from the start.