Learn The Dangers of Overpricing Your Grantsville Utah Home

Dont price home too high
Price Grantsville UT listing right

This is not the first time I have cautioned to learn the dangers of overpricing your Grantsville Utah home. Every time the market gets “hot” we all need to be reminded.

Sellers want to ring every drop of equity they can out of their house sale and agents want to play the hero and be the one that brings the highest return for their listing.

But, even though we are in a sellers market, we can’t let greed  interfere with a great opportunity. As my old grandpappy used to say, ” pigs get rich, hogs get slaughtered”.

Let’s review some of the truisms about pricing before we get hoggy!

What Overpricing Your Grantsville Utah Real Estate Listing Might Cost You

Home values are rising, which is wonderful news for homeowners. Buyers are more confident when prices are on the incline, which produces more buyers and greater competition. This situation often leads overpricing, which is ill-fated under any circumstances. Below is what overpricing your Grantsville Utah real estate listing might cost you.

Home Price and Listing Timeframe

It is well documented that list price and the time needed to get a listing under agreement are connected. Overpriced properties sit longer for many reasons. First, higher price ranges attract fewer buyers. Additionally, overpricing your property makes lower-priced ones appear even better to buyers. So, competing listings may benefit from your overpricing. Finally, home buyers are more scrutinizing as the price increases. Higher prices should be justified by differences in upgrades or potential buyers will bypass it.

Longer Days on Market Affects Sale Price

Additionally, extended marketing times lead to lower sale prices. Buyers negatively view houses that do not sell quickly. They infer that there must be problems with the property (and not necessarily that it was overpriced).

Additionally, sellers normally drop the price over time. Even if you bring the price to the proper range, it is probably too late to reverse the damage. Buyers interested in the property will usually present lower offers than they otherwise might have. Ultimately, your Grantsville Utah property will sell for less because you overpriced.

What Overpricing Your Grantsville Utah Real Estate Listing Might Cost You

What overpricing your Grantsville Utah real estate listing might cost you is both time and money. It is that straightforward. Even if the real estate market is hot and homes are selling for above asking price, overpricing has no advantage. The first two weeks of a house being listed are the most critical. This generates the most interest, builds demand and yields the highest price. Obtain assistance from an experienced real estate broker who understands the market and proper pricing approaches to ensure that you do not make the mistake of overpricing your home for sale.

What Do Grantsville Utah List Prices Look Like Today

Conclusions Regarding Grantsville UT Pricing

It should be obvious now that pricing a listing properly is key to a smooth and profitable transaction. Also obvious that the best way a seller can do that is to hire a local, experienced, full time, professional real estate agent.

I’d like to be considered for that job.

You can learn more about me by checking out my bio,about Berna Sloan” and you can find out a lot about what I know by logging into my Blog, “about Tooele Real Estate“. Or you can buzz me up @ 435-840-5029 and chat more about how to learn the dangers of overpricing your Grantsville Utah Home. Or, for that matter, any other city in Tooele County.