Did I overprice my home?

Are you concerned about overpricing your home? New Orleans home sellers call us all the time to ask what we, as your real estate agents, think they should list their home for and how much it can sell for. We do a walkthrough, talk about repairs, and look at the comps. (Comps are the houses that sold around you that are comparable to your house)

We are now ready to talk numbers! Mister & Misses Seller we think you should list your house at X amount of dollars.

SCREEEEEEEEEECH!

All of a sudden these New Orleans home sellers are “in no hurry to sell” and want to list for $50-$75k over what the house can actually sell for.

“Let’s just see what happens! I don’t care if I overprice my home at first”

We can tell you what’s going to happen. You will get a couple of showings and no offers. If you do manage to get an offer, it’s going to be much lower and closer to the price we suggested to list.

“We can always drop the price later!”

Multiple price drops on a house that was originally far overpriced do not bode well for you.

Why? Because it appears that there is something wrong with the house.

It will sit on the market. 

Houses that are overpriced sit on the market for far longer than your competition.

Trust us, we want your house to sell for the absolute most we can get! But, you’re not doing it any favors by overpricing it.

Other real estate agents have access to those same comps we looked at it. They look at those for their clients when determining how to make an offer. When they see how dramatically higher yours is, with nothing to back up the price, they tend to walk away.

“But, I will entertain any offer!”

Yeah. Well. About that. Buyers and their agents don’t want to insult you by bringing offers that are far below what your list price is. So, instead, they just find another house.

“That’s fine. As I said, I’m not a hurry.”

If you’re not in a hurry, then why are we listing your New Orleans house? Statistics show that people who overprice their house from the beginning, end up getting far less than they could have if they priced it right the first time.

Let’s talk about what your house is worth! Text us!  

Price Per Square Foot: Why we don’t price your house that way