by: Natalie Selsor
"Testing the market” (pricing your home higher than real-time market data supports) can potentially hurt your bottom line.
Data shows that pricing your home just 5% over fair market value reduces your number of showings by an average of 30%. Similarly, pricing more aggressively at 5% under fair market value can increase your prospective buyer pool by 20%.
THE TAKEWAY
Pricing your home based on market data and recent comparable sales at the time of listing is the most effective pricing strategy to sell quickly and get the most for your home.
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