The old adage that price reigns supreme in real estate is always at play. Sellers usually want to price their home at the top or above their agent’s suggested range to test the upper limits of what the market might be willing to pay for their home. In reality, most real estate agents agree to do so with the caveat that if showings do not yield any serious interest or there is little to no showing activity, then the price will need to be adjusted. Any savvy agent’s gut always tells them what the home should be priced at to make it move. Underpricing Conversely, what happens when an agent convinces sellers to underprice their home with the intention of sparking immediate interest and perhaps multiple offers? There is underpricing and underpricing. Pricing at the low end of a suggested range or by a couple of thousand dollars within reason is one thing. Pricing the home well below comparable sales is another. What seller in their right mind would even agree to such a thing? …
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