It is often a mistake to list your home with the Sales Consultant who suggests the highest price, as they may be simply trying to ‘buy’ your business. While it is true that you can always ‘come down’, there are many factors to consider.
Firstly, the market is always looking for new listings. This means that the first few weeks your home is on the market can often bring more inspections than any other time. Many of the Buyers in the price range will rush to see your home. Those who have been looking for some time are often the ones who have done their homework and are ready to buy.
But they will also be the most aware of the market value of your property. If your home is correctly priced it will make Buyers feel they need to snap it up before someone else does. If the price is too high, they feel no such sense of urgency.
Just as Sellers take the attitude ‘we can always come down’, Buyers think they will ‘wait until the price drops’. It is often the case that a property which could have achieved $500,000 when first placed on the market, may achieve only $450,000 after being on the market for a number of months and becoming stale. The longer your property is on the market, the more Buyers feel they have the negotiating power.