How to Tell if Your Home Is Overpriced

Real Estate Podcast with Amy Wengerd

There are three ways you can tell if your home is overpriced. Many homeowners come to us to voice their frustration that their home hasn’t sold, and almost every time, the reason why boils down to overpricing. We at the Amy Wengerd Group always try to get the most money possible for our sellers no matter which market we’re in, and sometimes they prefer to list their house above our suggested price, and that’s fine. But what if you picked an agent with a great reputation and marketing plan and your home still isn’t selling? Here are the three ways to know if your home is overpriced: 1. No buyers or Realtors are contacting you about the house. This means no emails, texts, phone calls, etc. “You always want to net the most money possible from your home sale, but you don’t want to sabotage it by pricing your home too high.” 2. Your home has showings, but no offers. In this situation, you’ll hear buyers tell you that they’d like to keep looking, or the house just isn’t for them, or they found something they liked better. Usually, this means they liked what they saw online, but they decided the home wasn’t a good value in person. In other words, you’re helping to sell the competition. 3. Potential buyers are making lowball offers. This doesn’t mean they want to “steal your house.” They may like it, but feel as though the price doesn’t align with current market conditions. You always want to net the most money possible from your home sale, but you don’t want to sabotage it by pricing your home too high. If you’d like some guidance on how to navigate this tricky process, don’t hesitate to give our team a call. We’d love to help you.