Agent

Pricing low can pay off for sellers

In high-demand markets, tactic works wonders

Home sellers dream of receiving more than one offer and a sale price that's higher than the list price. With inventories low in many communities across the country, multiple offers are more common than they've been in years. A strategy that has become popular in areas that lack sufficient inventory to satisfy the demand is to select a list price that is lower than the expected selling price. In theory this should attract more buyers and result in a higher price. The key ingredient for this approach to work is that the listing must appear well priced to buyers. The price needs to be based on recent comparable sales, not on the price the sellers would like to receive for their home. HOUSE HUNTING TIP: Often pricing low pays off well for sellers. However, you could cut yourself short unless your real estate agent carries out an ambitious marketing campaign for your home before you hear offers. Your listing should be on the multiple listing service with a lot photos that accu...