When the objective is selling your Alpharetta home for the highest price (which it always is), establishing the asking price is the second of the two most crucial decisions you will make. Many homeowners’ reason that setting the original asking price “at the max” makes the most sense. They see that strategy as a way of controlling the process since it provides room for negotiations. Because this early decision is made before the Alpharetta home has even entered the market, it doesn’t yet feel like there is any time pressure. If the high figure doesn’t attract buyers, lowering the asking price will solve the problem.
That may sound logical, but it’s highly inadvisable. When a seller decides to price above comparable properties, the predictable result is to curtail the property’s “visibility”—the number of buyers who will be motivated to look more closely. That significantly lowers the likelihood of drawing a reasonable offer—or any offer. It leaves the seller little choice but to lower the asking price—and properties showing price reductions don’t fetch top dollar. That process is known as “chasing the market down”—a phrase that accurately captures the vicious cycle that can develop when a home goes too long with no takers. As the days-on-market accumulate, it makes a property seem as if something must be wrong with it—even if the only thing wrong was the original asking price.
As noted above, pricing is the second crucial decision. It’s preceded by the first: selecting the best Alpharetta Realtor® to manage the selling process. That Realtor should have experience in compiling the research that accurately pegs how comparable Alpharetta listings are currently faring—which includes taking into account the special features that give your own Alpharetta property unique marketing advantages.
When a newly listed property quickly attracts attention, it maximizes the possibility that a bidding competition will develop—the polar opposite of “chasing the market down.” If it is time to sell your own Alpharetta home, I hope you’ll call me to discuss all the ways we can make that happen!
Please feel free to call or text me at 404 710 0204 (or drop me an email) if I can provide you with more information about this article, or if I can assist you with buying or selling Alpharetta real estate.
This Cumming GA Real Estate blog is hosted by Gayle Barton of BERKSHIRE HATHAWAY HomeServices Georgia Properties.
I specialize in Real Estate sales in the following Forsyth County and North Fulton County cities: Cumming, Suwanee, Alpharetta, Milton and Johns Creek. Other north metro-Atlanta suburbs are serviced by request, so please call.
Gayle Barton Forsyth County Real Estate | Cumming GA Real Estate | Mountain Crest Homes For Sale
Gayle Barton Cumming GA Real Estate | Forsyth County Real Estate
Disclaimer: Information contained in this post is deemed reliable on the date of publication, but it is not guaranteed and it is subject to change without notice. All content, including text, original art, photographs and images, is the exclusive property of Gayle Barton and may not be used without expressed written permission.
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