The asking price of a home can be an alluring tool used in marketing a home for sale. There are different schools of thought on pricing 1 through 4 unit real estate.
Price it high to show your confidence in your home’s value and let the buyers offer what they will. Other than cities where this practice is normal, I only suggest this for exceptionally special or unique properties.
Price it at the exact price you believe is fair and hold fast for an honest offer. This is a conservative approach but doesn’t always get the highest price.
Price it low, anticipating this will attract the most viewers and bring multiple offers. Then let the buyers bid the price up. This strategy is seldom used in commercial property sales but is becoming common for single family through 4 unit residences especially in higher priced neighborhoods. This should ONLY be used in a seller’s market AND in cities where it is an accepted practice.
All of these work. My greatest success comes from knowing which strategy is best suited for a particular property, city, price range and buyer demographic. How to play these strategies to your advantage comes from years of practice. I have 20 years industry experience.
or e-mail me Alex@NEWSTANDARDREALTY.com