Sell your home faster with one simple trick: price below market value to stand out in a competitive market.

Right now, we are in a strong buyer's market, and when you're trying to sell your home, the odds are not in your favor by default. There are more listings than buyers, and while activity may be high, competition is even higher. So, how do you stand out?

The key to attracting buyers is pricing your home correctly. When buyers are looking at homes, they often compare prices and conditions. Homes priced below market value tend to get more attention and often receive multiple offers. 

On the other hand, if you’re considering slightly overpricing your home while being open to negotiation, you might miss the mark. Instead of waiting for buyers to make an offer, be proactive and price your home attractively from the start. This shows buyers that you’re serious about selling and understand the current market dynamics.

”In a buyer’s market, overpricing is a deal-killer; strategic pricing brings multiple offers.”

When setting your price, it’s crucial to look at comparable sales, often called "comps." Sellers should review sales from the past six months to understand current trends. If the market is softening, pricing your home just below what similar homes have sold for can set you apart.

Pricing is about what the market dictates. If your neighbor sold for more than the current market supports, that doesn’t mean you can, either. You need to be realistic and informed about the trends.

Let me share one of our clients' experiences. A client of ours recently moved from New York to Florida. They found a home listed at $1.275 million, but we decided to make an offer at $1.01 million. Many buyers might hesitate to make such a low offer, fearing it could be viewed as an insult. However, knowing the market data allowed us to take that step confidently.

After some negotiation, we landed the deal at a price that worked for everyone. If the sellers had priced their home more strategically from the start, they might have had a quicker sale at a higher price.

In a changing market, knowledge and strategy are your best friends. If you’re considering selling your home, let’s chat about how to price it effectively. Call us at (561) 843-4464 or email us at dankarp@kw.com or laurie@activeluxury.com. We’re here to help you!