Six Common Home Pricing Mistakes Phoenix Sellers Make

Posted by Artur Ciesielski on Wednesday, May 25th, 2011 at 2:08pm.

Pricing of your Phoenix real estate for sale is key and it needs to be a good fit for the market from the start, otherwise you’ll get nowhere.

The properties that are priced correctly for the market from the beginning sold quicker and sold for more then those Phoenix homes that lingered on the market with repeated price reductions.  
These listings that sit on the market are often referred to as ‘stale listings’.  Mind you, they may be on market longer for other reasons than price and one should not put too much weight into the days on the market as other facts, but human nature being what it is, it’s better to prevent those days from accumulating.

Avoid becoming a stale listing by knowing what the common mistakes are that put properties into that category.

Mistake One: Not having the home in show ready condition when it goes on the market. Unfinished paint jobs, boxes, clutter, even though it’s temporary or the end of a preparations for sale project will still hurt your sale. Your home needs to be in tip top shape when it hits the market.

Mistake Two: Not doing the proper research like pricing, market competitiveness, target market.

Mistake Three: Hiring an agent that buys your listing at your expense, meaning picking an agent simply because they promised to sell your home for more. Simply put they cannot part the waters of the market forces and many seller’s fall for this false sense of promise.

Mistake Four: Testing the market. Testing the market does not work. This only hurts you in the end.

Mistake Five: Pricing a little higher to give yourself negotiating room. This is a myth. Simply price it correctly for the market. If someone sees value they will pay the market price, but if you price higher you will lose some buyers and hurt the sale.

Mistake Six: Making decisions based on emotion. Once the property is on the market and it becomes a product. The only emotions you want are ones buyers will feel toward making your house their home.

These are just six of many other mistakes often made by buyers and their agents. There are other factors important to a sale like staging, location and so on, but price is the most important because - assuming proper marketing so that the market is aware of this property - the market is self leveling and a property matching the needs of a market will sell.

bike_148Artur Ciesielski | 602.492.8004

Artur is a Realtor and partner with inPhoenix Realty Group and an aspiring flaneur, currently in Phoenix or elsewhere when time allows, which is rarely. You can find him running up miles on this car, cycling the urban streets, in the office on Central or working at one of the many coffee shops in Central Urban Phoenix. 

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