An unrealistic asking price sets you up for disappointment. It will repel buyers who will be much savvier in your local area (since they’re looking at multiple properties) and likely harm your future efforts to sell your home.
Why? Because sellers can see if your home has been on the market before and for how much, and if you dramatically drop your price, they’ll be suspicious about what is wrong with your house, even if the price before was too high.
If you underprice your property, you’ll potentially miss out on additional profit you could have had, or, again, give potential buyers a reason to be suspicious about why your home is so cheap.
The best way to get to know the market is with your research. You can research yourself by looking at the local market and using online tools to appraise your home. You can also work with a professional appraiser or realtor who can give you a more accurate report on what your home is worth.
Once you’ve done your research and consulted a professional. You’ll have a much more realistic view of what price your home can achieve. Then you can move forward confidently with putting your house on the market.
Knowing what information to include in your description that will appeal to your kind of buyer (if you need to handle that yourself), and what images to include in your listing.
Keep reading our full process on How To Sell Your Home