Accurate Pricing is Crucial

As sellers encounter the slowest Spring Market since the COVID lockdown in 2020, careful, deliberate pricing is essential to secure success.  Imprecise pricing results in longer market times, price reductions, and walking away with a smaller net proceeds check.

Time for spring cleaning and garage sales. Many homeowners participating in the neighborhood garage sale quickly realize the importance of careful, meticulous pricing. Most buyer activity occurs the moment items are strategically placed on the driveway. After the first hour or two, the crowds diminish and sellers are left scratching their heads and second-guessing their pricing. After adjusting the price lower, they know that the longer they wait, the fewer shoppers arrive, and the higher the probability they will not be able to move their used merchandise.

Today’s sellers are also realizing the importance of careful, meticulous pricing. It does not feel like a typical Spring Market. There is much more seller competition, the market is slowing weekly, and sellers are left second-guessing their price. They realize that the spring clock is ticking. The longer sellers are on the market, the fewer buyer showings, and the more doubt sets in.

 Excerpt taken from an article by Steven Thomas.